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Bitcoin Price Analysis: Trend Destiny Will Be Determined In The Range Of $7000-7200

As expected, the past week ended with a slight increase.  After formation of a reversal candle the price has smoothly continued to grow two weeks ago. The last week spread of the minimum and maximum was only $ 600.

On the daily chart, the price continues to strive for the rectangle marked earlier. This is the $ 7000- $ 7200 zone, where the bears can again take a reinforced attack.

If level is broken and the price will leave above a mark of $8000, then with high probability it will be possible to speak about a reversal trend.

Of the fundamental factors, it should be noted that attempts to launch bitcoin ETF were again rejected. Nevertheless, despite this negative, the market almost did not react, and the price continued its grueling flat.

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