Bitcoin Price Watch: BTC/USD Likely To Consolidate Below $8,200106.15

Bitcoin price trimmed its intraday gains against the US Dollar. BTC/USD settled below $8,000 and is currently trading in a range near $7,900.

Yesterday, there was a start of a downward move from the $8,500 swing high in bitcoin price against the US Dollar. The BTC/USD pair declined and broke the $8,300 and $8,100 support levels. There was also a close below the $8,060 support level and the 100 hourly simple moving average. The price even broke the $8,000 support and traded as low as $7,836.

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