Bitcoin Price Analysis: BTC/USD Is Trading in Uptrend but Can the Bulls Clear $7,000?

The daily chart reveals that Bitcoin (BTC) has effortlessly zoomed above $6,500 before refreshing levels above $7,000. More so, the Bitcoin price has broken upside by crossing the 9-day moving average and the coin is now facing the resistance level of $7,000 waiting to break out of the channel.

Moreover, the technical indicator remains positive as RSI (14) for the coin is heading above 45 to indicate an upward movement as BTC/USD may see the resistance levels at $8,000, $8,200 and $8,400. However, if the buyers can put more effort and energize the market, they can further push the price to a $7,000 resistance level.

Timeline of Bitcoin