Bitcoin price is showing signs of weakness below the $8,000 barrier against the US Dollar. BTC could make the next move either above $8,000 or below $7,700 in the coming sessions.
- The recent recovery in bitcoin price faced a strong resistance near the $8,140 level against the US Dollar
- The price is currently facing a strong resistance and it is likely to struggle near $8,000
- There is a major bearish trend line forming with resistance near $7,950 on the 4-hours chart of the BTC/USD pair
- The pair could either break the $8,000 resistance and rally or decline below the $7,700 support area.