Key PointsBitcoin price traded to a new low at $7,426 and is currently recovering against the US Dollar.
There is a crucial connecting trend line formed with support at $7,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair may perhaps move higher towards the $7,850 resistance and the 100 hourly SMA.Bitcoin price is rebounding from the $7,426 low against the US Dollar. BTC/USD is likely to correct further higher towards the $7,850 resistance in the near term.Bitcoin Price AnalysisYesterday, we saw a major bearish move below $7,850 in bitcoin…Read More…
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