More pressure from the Bears after the pullback will decrease Bitcoin price further, which may break $7,600 level and target $7,195 level. Should the Bulls defend the demand level of $7,600 the coin may target $8,235 level.
Bitcoin price will reach $9,398 resistance level should the Bulls gain more pressure to push the price up. Bitcoin price consolidation may continue in case the bulls’ momentum remains weak.
The BTC is around $8,723 on May 30.
Bears are increasing their momentum as the bearish candle is pushing Bitcoin price downward to $8,233. Without the interruption of the Bulls, BTC price may reach $8,233. In case the Bulls fail to defend the mentioned level the price may target $7,812.
Should the $8,608 level hold, the bulls will continue to put the Bitcoin price on the uptrend track. In case the Bulls lose their momentum with increase in the Bears’ pressure, $8,608 level may be penetrated and the price may find support at $8,233 level.
The flagship crypto is correcting and trading around $7,578.27 Thursday.
Radical fundamental force may be required to break up the strong resistance level of $8,233. The resistance level may be broken up should the Bulls push up Bitcoin price and touch the level of $8,233 fourth time.
In case the demand level of $7,812 holds Bitcoin price may bounce and resume its bullish trend which may break up the $8,233 and target $8,678 level. Should the Bears exert more pressure and break down the $7,812 demand level, BTC may fall to $7,440.
The flagship crypto took a break Thursday and is trading around $7976.60.
Should the demand level of $7,812 hold, the Bulls will resume their uptrend movement which may push Bitcoin price to break up the $8,233 level and target $8,678 level. Otherwise, consolidation may continue.