Bitcoin Analysis: $8000 touched, what's next?

Bitcoin continued to push a new all time high today after completely recovering from the 30% correction less than a week ago. The market cap now stands at $131 billion, with $5 billion in trading volume over the past 24 hours.

In the image above, we have shown the 4-hour chart of the BTC/USD.

It looks like price has just touched the psychological level at 8,000 USD. This level coincides with a previous high, as well. We have outlined in the red square the resistance zone that was formed on the 7th of November.

What can possibly happen from here?

Scenario 1

The first potential scenario is to see the price breaking out of the 8,000 USD level. To see that happen, we will need more bullish news

Scenario 2

A second hypothetical scenario is to see the price rejecting the 8,000 USD level and forming a bearish pattern. Then we might see the price dropping down to the major support level at 5,600 USD. Maybe we will also see a larger drop if price rejects the 8,000 USD level.

Crypto Future GmbH
DC Tower, 28th floor
Donau-City-Street 7
1220 Vienna, Austria

Phone: +43 1 376 50 50
E-Mail: info(at)

Have a question?

Get in touch with our support team.

Drop us a line at:


RTH on platforms


Facebook Instagram Telegram Twitter Reddit   YouTube


This website uses cookies to provide services in line with the preferences you reveal while browsing this website. By continuing to browse this website, you consent to the use of these cookies.
If you want to object such processing, please read the privacy policy.