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Bitcoin Price Forecast: BTC/USD next critical breakthrough is eyed at $7500

  • Bitcoin price is trading in positive territory, up 1.05% in the second half of the session. 
  • BTC/USD is being capped for the time being by a barrier at $7500.
  • The price has been consolidating near-term, following the critical $7000 breakthrough. 
Bitcoin Price Forecast: BTC/USD next critical breakthrough is eyed at $7500
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

The next major daily barrier should be noted at $7500, a breakdown here can open the door to a fresh wave of buying momentum. 

BTC/USD 60-minute chart

60-minute supply runs from $7400-7500 price range, capping further upside. A near-term ‘m’ structure is observed via the hourly chart view.

Spot rate:                 7413.20

Relative change:     +1.05%

High:                        7426.72

Low:                         7154.70

BTC/USD

Overview
Today last price7271.25
Today Daily Change69.12
Today Daily Change %0.96
Today daily open7202.13
 
Trends
Daily SMA206542.91
Daily SMA507480.13
Daily SMA1008148.19
Daily SMA2008130.06
 
Levels
Previous Daily High7468.81
Previous Daily Low7075.82
Previous Weekly High7254.75
Previous Weekly Low5854.85
Previous Monthly High9215.51
Previous Monthly Low3886.49
Daily Fibonacci 38.2%7225.94
Daily Fibonacci 61.8%7318.69
Daily Pivot Point S17029.03
Daily Pivot Point S26855.93
Daily Pivot Point S36636.03
Daily Pivot Point R17422.02
Daily Pivot Point R27641.91
Daily Pivot Point R37815.01

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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