Bitcoin prices began to fall after successive surges

Bitcoin prices began to fall after successive surges

In the past five days, bitcoin prices have risen sharply, breaking through the resistance of $ 7,000, and even broke through the resistance levels of $ 7,200 and $ 7,500. The highest point of the bitcoin price formed after the 7590 US dollars, began to fall sharply, the current bitcoin transaction price fell below the support level of 7,200 US dollars, near the support level of 7,000 US dollars.

Bitcoin prices are moving well and the current trading price is still above $7,000. However, bitcoin prices are now facing strong resistance around $7,150 and $7,160. If bitcoin prices can clearly break through $7,160, they may break through the $7,200 and $7,250 resistance levels in the near term.

Bitcoin prices are now well supported by around $7,000; in addition, a new bullish trend line is formed at the support level of $6,940 on the hourly chart of bitcoin prices. As a result, bitcoin prices are still well supported around $6,950 and $7,000. But if the bitcoin price falls below $6,950, the main support area of ​​$6,700-6,800 may be retested. (answer)