Bitcoin price (BTC/USD) falls to low $7,800 area on Tuesday

The Bitcoin price (BTC/USD) experienced a big surge in yesterday’s early afternoon session, which allowed it to move within striking distance of the $8,000 mark. The digital coin had dropped below that level amid difficult trading over the weekend. Following the rebound on Monday, BTC was able to recapture the $8,000 mark, as its price rose to as high as $8,031.91. The coin finished the day at $8,000.33, up from its opening level of $7,692.28.

However, the coin has been unable to sustain trading at those levels in today’s trading. The coin spent the better part of today’s morning session hovering within a tight range below the $8,000 level. However, during late morning trading the coin experienced a steeper drop the sent its price to sub-$7,900 levels. At the time of writing, the Bitcoin price was hovering around the $7,810 mark, according to data from digital currency tracker Coinmarketcap.

Stuck in a trading range

In a technical analysis piece published earlier today, industry website Coindesk noted that Bitcoin had been…

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