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Bitcoin Above 100 SMA (H4) Could Spark Strong Surge To $7.5K

Bitcoin is currently correcting higher from the $4,320 support area against the US Dollar. BTC could rally further if the bulls are able to push the price above $6,800 and the 100 SMA (H4).

 ▪ Bitcoin price seems to be facing a strong resistance zone near the $6,800 and $7,000 levels.
 ▪ The 100 simple moving average (4-hours) holds the key for the next move.
 ▪ There is a key bearish trend line forming with resistance near $6,680 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
 ▪ The pair could either rally above $6,800 or it might decline back towards the $5,200 level.