Let’s have a closer look at what is going on the Hourly chart. The currency pair has reached $7,734 previously, but failed to hold this level or to run higher and went downwards. BTC/USD has touched $7,565 again and fluctuates there in the moment of writing. The possible ways for BTC/USD are the following:
1. Red scenario (bearish). The currency pair Will break through $7,565 support area and move lower, targeting the next support area at $7,341.
2. Orange scenario (neutral). BTC/USD will stay within the current range, limited by the support area at $7,565 and the resistance area at $7,734.
3. Green scenario (bullish). The currency pair will run towards $7,734 and break it through targeting the next resistance area at $7,949.
Check the full crypto analysis HERE>>>.
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