Bitcoin Back At $7200


Bitcoin price started an upside correction from the USD 6,550 support level. BTC/USD managed to recover above the USD 7,000 resistance area.

Bitcoin attempted to climb above the USD 7,350 and USD 7,400 resistance levels. It, however, failed to gain strength and declined below USD 7,200. The price is now trading at c. USD 6,927. On the upside, a clear break above USD 7,350 and USD 7,400 is must so as to start a strong rise. If not, the price is likely to resume its decline below USD 6,800.

Recently, there was a recovery wave in bitcoin price above the USD 7,000 resistance area. BTC/USD climbed above USD 7,200, but it struggled to break an important resistance near USD 7,350. At pixel time (09:43 UTC) it already trades below USD 7,000.

Similarly, there was an upside correction in major altcoins, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is currently above USD 140 and it is struggling to gain strength above the USD 150 resistance. XRP/USD declined below USD 0.215 and the bulls are finding it hard to push the price above USD 0.220 and USD 0.222.