Bitcoin on a rise: BTC ready for bull run above $4000?

Bitcoin started to rise 12:00 UTC today after trading within the $3700 range in the last 24 hours. After falling from $3800 yesterday, bitcoin settled at around $3700 with $3700 acting as a strong support which stopped the price from falling further. However, today bitcoin started an upward move rising up to $3875.

Bitcoin Price Analysis

Technical Indicators

Support Level: $3800

Resistance Level: $3900

Bitcoin price started a bullish momentum earlier today rising above the $3800 resistance level which is now acting as a support. Bitcoin went up to $3875 and is currently correcting downwards, trading at around $3857. The overall momentum is bullish.

BTCUSD 24 hour chart
BTCUSD 24 hour chart

The previous resistance of $3800 has now turned into a support which might help bitcoin to overcome the next resistance at $3900 to move over $4000. If buyers are able to push the price above $3900 resistance, bitcoin is most probably going to move over the $4000 range in short term to test the next resistance around $4100.