Bitcoin blasts past $8,000 forming a new weekly high at $8,296.
Technical analysis points towards the diminishing buying pressure in the short-term.
BTC/USD has reignited its uptrend once again by a climb past $8,000 level. This move is incredible for Bitcoin and most investors are looking anxiously waiting for a break above the upper range limit at $8,500. BTC/USD has been in lock-step trading within a narrow $1000 range for more than one week now.
BTC/USD 15-min chart
Chart source: Tradingview
The correction from the recent low at $7,500 has seen Bitcoin achieve a higher
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