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Yuri Molchan

As Bitcoin is now about to retest the $7,000 level after hitting it on Thursday, traders are expecting BTC to break through and hit $7,400-$7,600

On Thursday, April 2, Bitcoin hit the $7,082 price mark giving the markethope for a bullish continuation. However, BTC plunged back to $6,779 later on.

As BTC has recovered to $6,914 at the time of writing, traders are making bullish bets on BTC going over$7,600 and assuming it could hit $8,900 after that.

Trader George tweetedthat hourly and four-hour candles closed strong and now he is targetingthe $7,600 level.

However, later on, he tweeted that the $6,800 is the key for now. Unless BTC falls below that, the price could retest the yearly open level in the $7,200 area.

If BTC breaks below the $6,600 zone, bulls will be in trouble, as per George.

Nik Patel, a trader andauthor of An Altcoin Traders Handbook', says heshorted BTC when it reached $6,960. Now,he expects the digital gold to decline to 5,820.

Shorted $BTC at 6960, stop at 7410 and looking for 5820. Right now this looks like a retest of double-top resistance at 6990 after a swing-failure of those highs and rejection at yearly open.

Trader and technical analyst Nicola Duke Crown expects Bitcoin to break above the $7,175 mark today and then head towards much higher levels - $8,500-$8,900.

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Bitcoin (BTC) Price Targets $7,600 with Chance to Hit $8,900 Later - U.Today