Bitcoin continues today in a small sideways move above $ 7,300. Unfortunately, it has not been able to overcome a strong resistance at $ 7400 since last April 06. It seems that an upward movement becomes somewhat complicated at the moment, especially with the low volume of trade that we are seeing.
In the graph we can see that the price continues on an upward trend marked from the beginning of its momentum on March 16. There is a good chance that we will see the price come to touch this line again to look for a bullish rebound and possible buyers with a good volume of trade.
We now have that trend line above $ 7,000, which just coincides with a psychological support level and the 200-period EMA, which is often used as a rebound area. We can clearly appreciate that a breakout of the R1 around $ 7,400 would usher in a new upside move and could represent a good entry point to buy for the near term. All this to seek targets close to $ 8,000 again.