Intelligence Report: Can Bitcoin Break $7,800?

After the price consolidation above the USD$7,000 zone, the Bitcoin market became somewhat indecisive, showing no clear direction. Following the Bitcoin/USD exchange rate race up to USD$7,800, the price immediately dropped back below USD$7,500.

The Bitcoin price is trending horizontally within a narrow range which shows decreasing price volatility. The price ranges from USD$7,000 to USD$7,800. The USD$7800 resistance is the first hurdle to overcome.

If Bitcoin can hold its closing price above USD$7,400 for two consecutive days, we can see this as optimism and potentially more gains.

https://blog.aax.com/en/2020/04/27/intelligence-report-can-bitcoin-break-7800/

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