Key Points
- Bitcoin price recently traded to a new all-time high at $7804 (Data feed via Kraken) against the US Dollar, and started correcting lower.
- The BTC/USD pair is currently trading near a monster support trend line at $6500 on the daily chart.
- As long as the pair is above the trend line support and $6500, it might bounce back.
Bitcoin Price Remains Buy?
There was a nasty bull run in bitcoin price lately as it traded to a new all-time high at $7804 against the US Dollar. As mentioned in the previous analysis, there was a break above the $6000 level to initiate a major uptrend. Later, the BTC/USD pair found sellers and started a downside move below $7500.
Source/More: Bitcoin Price Forecast: BTC/USD Correction Over, Buy above $6500?
