- Bitcoin price weekend consolidation above $7,500 yields as gains extend to $7,800 on Monday during the Asian session.
- Bitcoin could take advantage of the pre-halving speculation and volatility to rise to $9,000.
Bitcoin price remained relatively stable over the weekend sustaining last week’s accrued gains above $7,500. However, the bullish action rapidly extended upwards with $8,000 in the sight glass but hit a wall at $7,805 (intraday high). Meanwhile, Bitcoin is trading at $7,704 (close to its opening value at $7,704.33. The prevailing trend is bullish while the shrinking volatility suggests that downward movements will not be rapid in the current and coming sessions of the day.
From a technical perspective, Bitcoin is ready for another lift-off above the critical $8,000. It appears that the recent break above the 50-day SMA has been vital to the recovery experienced since BTC/USD surged above $7,000 last week. The MACD displays a positive and strong bullish picture especially with the bullish divergence within the region above the mean line.
It is also important that the bearish pennant pattern resistance and the hurdle at the 200-day SMA are overcome for the much-anticipated gains towards $9,000. As Bitcoin halving draws nigh, volatility is expected to increase due to the speculation among investors. Most investors expect Bitcoin price to rally pre and post halving, with some predicting gains in the excess of $80,000 per BTC by 2022. In the meantime, in the event Bitcoin price reverses the trend, support is expected at $7,700, $7,500, and $7,200.
Read more: Cryptocurrency Market Update: Bitcoin mooning to $5 million in just 5 years
BTC/USD daily chart
 (8)-637235520072724245.png)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
PEPE Price Forecast: PEPE could rally to double digits if it breaks above its key resistance level
Pepe (PEPE) memecoin approaches its descending trendline, trading around $0.000007 on Tuesday; a breakout indicates a bullish move ahead.
Tron Price Prediction: Tether’s $1B move triggers TRX ahead of US Congress stablecoin bill review on Wednesday
Tron price defied the broader crypto market downtrend, surging 3% to $0.25 on Monday. This bullish momentum comes as stablecoin issuer Tether minted another $1 billion worth of USDT on the Tron network, according to on-chain data from Arkham.
Ethereum Price Forecast: Short-term holders spark $400 million in realized losses, staking flows surge
Ethereum (ETH) bounced off the $1,800 support on Monday following increased selling pressure from short-term holders (STHs) and tensions surrounding President Donald Trump's reciprocal tariff kick-off on April 2.
BlackRock CEO warns Bitcoin could replace US Dollar as global reserve currency, crypto ETFs witness inflows
BlackRock CEO Larry Fink stated in an annual letter to investors on Monday that the US national debt could cause the Dollar's global reserve status to be replaced with Bitcoin if investors begin to see the digital currency as a safer asset.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.