Bitcoin Defies Gravity But Here Is Why It Could Correct In Short-Term

Bitcoin surged more than 5% to climb above the $7,700 and $7,800 resistance levels against the US Dollar. BTC price tested the $8,000 barrier and it could correct lower in the short term.Bitcoin price traded to a new 2020 high close to the $8,000 mark against the US Dollar.
Despite all hurdles near $7,700 and $7,800, the bulls were able to gain strength.
There was a break above a major contracting triangle with resistance near $7,620 on the hourly chart of the BTC/USD pair (data feed from Kraken