The latest Bitcoin news show that the price of the most dominant cryptocurrency is now coming closer to the $4,000 mark, which is interesting because just a few days ago, it was changing hands with the $3,500 region. Bitcoin is now trading at $3,946 at press time, rising by another 5% over the past few hours and increasing its market cap to a few millions short of $70 billion.
With that, the chances of Bitcoin are continuously increasing and the BTC/USD pair showed a nice bullish momentum recently. The clear bullish break noted above the $3,800 resistance and the 100 hourly simple moving average is linked to Ethereum as well, which rallied towards the $150 resistance level and helped BTC climb towards the $4,000 area.
Currently, the downside margin for Bitcoin is set at ,800 and the price could easily test the ,720 support if things go haywire.
buy viagra generic https://mexicanpharmacyonlinerx.net over the counter
However, a bullish action is much more expected than this as the price stays above $3,900.
The main resistance on the upside is at $4,200 which analysts see as a potential increase. On the positive note, if this is soon achieved by Bitcoin, there is a possibility for an even larger increase and possibly a breakout to the $5,000 region.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post