Bitcoin (BTC) price has secured some other higher high at $7,863 as traders go on to press for a break of the resistance at $8,000.

With simply 13 days left before mining reward halving investors are hopeful that the superlative-ranked cryptocurrency on CoinMarketCap can at least suspension in a higher place the 100-24-hour interval and 200-twenty-four hours moving average (at $viii,000) in order to tackle another key resistance level at $8,500.

Crypto market daily price chart

Crypto market daily price chart. Source: Coin360

Recently, Cointelegraph correspondent filbfilb explained that "breaking the confluence of resistance at $8K volition be a tall order for the bulls."

BTC USD daily chart

BTC USD daily chart. Source: TradingView

But the crypto trader also posted the chart in a higher place and tweeted that there is a:

Ridiculously tight cluster of MAs overhead; 100-DMA, 200-DMA, xx-WMA, Yearly VWAP, 61.8% Retracement, Yearly Pivot. Yet Bitcoin seemingly persists for more. Clasp in PA will result in expansion/volatility. I favor a look upwardly & so we will see.. pay-attention fourth dimension.

Currently, Bitcoin bulls are tussling to concur the $7,800 mark and a push above $7,968 would push the toll correct through the 61.8% Fibonacci retracement and the 100 and 200-solar day moving boilerplate.

Such a move seems likely to occur at some point this week and as discussed by many analysts beyond crypto Twitter, there is the expectation that the price will be rejected at $8,000 or $8,500. On Tuesday, crypto trader Micheal van de Poppe cautioned that:

Events similar the halving could trigger an increased level of FOMO by people and the media outlets. Withal, once people realize that the event doesn't take an impact short term, sell pressure volition also be stiff. Stay at-home and accept a plan going into the halving.

In the consequence that the Bitcoin cost does reject about $8,000, the price is likely to pull back to $7,750 and if this level fails to hold the adjacent support is at $7,600.

Bitcoin daily price chart

Bitcoin daily price chart. Source: Coin360

Altcoins besides surged aslope Bitcoin as information technology moved closer to $8,000. XRP surged past viii.51%,  Litecoin (LTC) added iv.61%, and Tezos (XTZ) gained 2.31%.

The overall cryptocurrency market place cap at present stands at $225.6 billion and Bitcoin's dominance rate is 63.7%.

Proceed rail of summit crypto markets in real fourth dimension here