The bullish momentum continues! The price is back above $8'000.
Current support / resistance: $8'000 / $8'500
In a tense international climate between Iran and the US, which is seeing the price of oil appreciate, the price of Bitcoin continues to recover. After breaking the downward triangle, the price of Bitcoin attacked the main resistance before a potential trend reversal. Despite significant buying pressure, the resistance has held up for now. If this resistance holds, it is likely to see a slight correction in the coming days after the significant movements at the beginning of the week.
In terms of technical indicators, the RSI is in an overbought region that has not been seen since last summer.
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