Will Bitcoin (BTC) Reach $ 7k This Week?

After a few cumulative days, the cryptocurrency market has been on the rise with Bitcoin (BTC). The top 10 cryptocurrencies are all appreciating now. The highest gain was Bitcoin SV (BSV), which achieved an almost 40 percent increase. However, the Bitcoin (BTC) hash rate continues to fall against the sharp growth of leading crypto. The decline has continued since the beginning of the month.

Major Resistance at $ 7k

There has been a 23 percent growth in bitcoin since yesterday. Bitcoin continues its short-term growth in this sense and has managed to exceed the support level of $ 6 thousand 600.

In order for the leading cryptocurrency to continue growing, it needs to make a slight correction of around 6 thousand 200-6 thousand 300 dollars. Also, the RSI indicator on the 4H chart confirms a possible return from the current levels. If the main cryptocurrency drops below $ 6,000, the growth scenario will disappear.

On the daily chart, the main resistance is at the level of $ 7,000, which Bitcoin (BTC) is approaching. The blue line of the MACD indicator is about to cross the red zone, which confirms the ongoing bull presence.

Also, the Relative Strength Index has not yet reached the oversold region. The visible Range indicator suggests high liquidity above $ 7,000. In summary, this week Bitcoin (BTC) may go above $ 7,000. According to CoinMarketCap data, Bitcoin was trading at $ 6 thousand 789 at the time of writing.