This past week, there were mostly bearish moves in bitcoin and altcoins. BTC/USD failed to hold the key USD 8,200 and USD 8,000 support levels. Bears gained control below USD 8,000 and pushed the price towards the USD 7,500 support area. The price is currently (08:20 UTC) consolidating losses and it might correct higher in the near term. However, there are many hurdles on the upside near USD 8,000