{"id":422179,"date":"2020-04-29T03:28:55","date_gmt":"2020-04-29T03:28:55","guid":{"rendered":"https:\/\/wncen.com\/?p=422179"},"modified":"2024-06-11T13:48:04","modified_gmt":"2024-06-11T13:48:04","slug":"bitcoin-btc-pre-halving-rally-above-8000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-pre-halving-rally-above-8000\/","title":{"rendered":"Bitcoin Breaking This Single Level Will Spark a Pre-Halving Rally"},"content":{"rendered":"
Bitcoin is showing bullish signs above the $7,700 level against the US Dollar. BTC could start a strong pre-halving rally if it breaks the $8,000 resistance and the 100-day simple moving average.<\/em><\/p>\n
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Bitcoin is following a positive path above the $7,500 pivot level against the US Dollar.<\/li>\n
The price is now facing a major hurdle near $8,000 and the 100-day simple moving average.<\/li>\n
There is a key bullish trend line forming with support at $7,200 on the daily chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could either surge above the $8,000 resistance or retest the bullish trend line.<\/li>\n<\/ul>\n
Bitcoin Price is Approaching Key Hurdle<\/h2>\n
After forming a major swing low, bitcoin started a steady rise above the $6,500 and $7,500 resistance levels against the US Dollar. BTC price even settled above the $7,500 pivot zone to move into a bullish zone.<\/p>\n
During the rise, it surpassed the 50% Fib retracement level of the main drop from the $10,497 high to $3,930 swing low. The current price action is positive above $7,500, but the bulls are clearly facing a major hurdle near the $8,000 level<\/a>.<\/p>\n