Supports: $4000, $4100
Resistance: $4400
Key Points
- Bitcoin price broke the major resistance between $4100 and $4200
- The new support is set around $4050 and $4100
- Bitcoin is currently in a bullish momentum with price rising above $4300 with the major support at around $4100.
Bitcoin Price showed bullish momentum which was being predicted after the bull run started yesterday. Bitcoin price is expected to rise further above $4500 once the major resistance at $4400 is broken.
Bitcoin Price Analysis
Yesterday was a great day for the cryptocurrency market as the price of major coins espically bitcoin started to rise up after long weeks of bearish momentum. Bitcoin tried to rise above yesterday’s key resistance around $4100 but failed. Today, bitcoin bulls came up with real pace and broke the key resistance to move upwards above the $4300 range. The key resistance now lies around $4400.
Bitcoin now has supports nicely placed between the $4000 and $4100 range which are difficult to break. Bitcoin price is expected to rise further above $4500 once it breaks the key resistance that is formed around $4400.
Bitcoin is currently trading at $4369 according to CoinGecko. Looking at the daily chart, bitcoin is nicely moving upwards with the major support levels at $4000 and $4100. Bitcoin is expected to rise further eventually breaking the resistance.
