Bitcoin News, Bitcoin Price, Price Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn On Monday morning, Bitcoin erased its gains over the past weekend, dropping from a weekly high of $7,740 back down to the $7,500 level. However, Bitcoin price has been slowly creeping up, and another run toward $8,000 is possible as the week progresses. BTC/USD Crosses $7,500, Holds New Support Currently, Bitcoin price is on a minor bearish run that’s looking to test a support at $7,450. BTC/USD has just crossed the $7,500 mark, which was seen as a critical resistance level for the past week. The current downward movement may be a correction that stabilizes BTC/USD around the $7,500 price level. On the downside, a drop below $7,500 could continue until it reaches a Fib retracement level of $7,350. A bullish trend line may form later in the day near the $7,450 support. On the upside, a bullish run could take BTC/USD back toward a resistance level of $7,650. However, the low trading volume is a cause for concern for Bitcoin bulls. Source: Tradingview Taking a look at the technicals chart, the MACD is showing a minor bearish signal, which confirms the present bearish trend line. The RSI indicator is sending a neutral signal, as Bitcoin is in neither overbought or oversold territory. Looking at the Technical Indicators: Hourly MACD — Bearish signal Hourly RSI — Neutral signal Major Resistance Level — $7,650 Major Support Level — $7,450 Featured Image: Depositphotos/© leungchopan NEXT PAGE NEXT Previous Bitcoin Price Watch – BTC/USD Holds Ground, Testing Resistance At $7,500 Next Bitcoin Price Watch – BTC/USD Tests $7,500 Support If You Liked This Article Click To Share This article was originally published by Cryptocurrencynews.com. Read the original article here. Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Products You May LikeArticles You May Like US-Based Huobi.com Adds Three XRP Trading Pairs Bitcoin SV Experiences Blockchain Reorganizations, Possibly Due to Unwieldy Block Size Crypto Exchange Kraken Takes a Cue from Binance, Delists Bitcoin SV Bitcoin SV Delisted from Binance Amid Craig Wright Controversy Bitcoin Fees Jump to Nearly 1-Year Highs – But Why?