Bitcoin Price Weekly Analysis – Can BTC/USD Break $8,500?

Key Points Bitcoin price surged higher this past week and broke $7,500 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at $7,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading above $8,000 and is facing a monster resistance near the $8,500 level.

Bitcoin price is trading in a bullish zone above $7,500 against the US Dollar. BTC/USD has to move above $8,500 to extend gains in the near term.

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