Last week BTCUSD the price of the Bitcoin had a two-day drop from about $8,800 down $7,427. Then, it retraced for three days and then moved back down, creating a base in the area between $7,400 and $7,600. Today during the last six hours it jumped up to touch the $8,100 and creating a Harami figure.
This shows there is bullish strength. if the $8,000 level is crossed up convincingly, there is a case for more bullishness. Currently, it is moving near $7.900 a level in the 4H chart, after touching $8,100. So we need to see if this selloff continues or is just short-term volatility. As we have said, we need to see strength above $8,000 to believe in a bullish movement to conquer the $9,000 level.
Main levels to watch:
Key level: 8,000
Resistances: 8,100, 8,500, 8,800
Supports: An area between 7,400 and 7,600