…There were monster gains in Bitcoin price as it moved above $6500 and $7000 against the US Dollar. The price gained a lot of pace and buyers succeeded in even breaking the $7200 resistance. A recent high was formed near $7477. Before $7477, there was a swing high formed at $7438 for a downside correction. Sellers pushed the price back towards $7000 and a low was formed at $6945.
Later, the price recovered sharply and moved back above $7200. There was even a close above the 76.4% Fib retracement level of the last drop from the $7438 high to $6945 low. It opened the doors for more gains above $7438. It seems like price would soon break $7500 and test the 1.236 Fib extension of the last drop from the $7438 high to $6945 low at $7555. Above the $7555 level, the next target could be the 1.618 Fib extension of the last drop from the $7438 high to $6945 low around $7700…
Read Full: Bitcoin Price Weekly Analysis – BTC/USD Eyes Break of $8000
