Bitcoin is fast approaching the $8,000 level as the number one cryptocurrency continues to receive strong buying interest ahead of the upcoming halving event. A breakout above the $8,000 level could see the BTCUSD pair rallying towards the $8,800 resistance level. Failure to move above the $8,000 level could see the BTCUSD pair slipping back towards the $7,460 support level.
The BTCUSD pair is only bullish while trading above the $7,460 level, key resistance is found at the $8,000 and the $8,800 levels.
If the BTCUSD pair trades below the $7,460, sellers may test the $7,200 and $7,000 support levels.
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