Bitcoin has exploded to the upside after moving past the $7,460 level and hitting a fresh monthly trading high, around the $7,770 level. BTCUSD bulls now have the upperhand and could start to target the cryptocurrencies key 200-day moving average, around the $8,000 level. On an intraday basis, bulls need to keep price above the $7,460 level to keep the upside momentum alive.
The BTCUSD pair is only bullish while trading above the $7,200 level, key resistance is found at the $7,770 and the $8,000 levels.
If the BTCUSD pair trades below the $7,200, sellers may test the $7,000 and $6,850 support levels.
