- BTC/USD bulls are pushing the coin above critical resistance.
- The upside may stall on approach to SMA100, 1-hour.
Bitcoin is trying to clear $4,000 resistance amid global recovery on the cryptocurrency market. The digital asset No.1 is changing hands at $3.873 at the time of writing after a short-lived spike to $4,069.
It’s the third time in recent four days when BTC/USD is attempting to break above $4,000. On previous occasions, the momentum was not strong enough to absorb new speculative shorts located right above the resistance area. Now both daily RSI and Momentum indicators are reverting from the recent lows, signaling that the sentiments are changing on the market.
Bitcoin’s technical picture
From the short-term point of view, BTC/USD rushed above SMA100 ($3,884), bringing $4,000 into focus. Once this hurdle is safely out of the way, the upside may be extended towards SMA200 1-hour and SMA50 4-hour at $4,156 and to $4,430 (23.6% Fibo retracement weekly).
On the downside, BTC/USD needs to stay above $3,770 (SMA50, 1-hour). Otherwise, the sell-off may be extended towards congestion zone $3,630-$3,600 with the next focus on the recent lows of $3,466.
BTC/USD, 1-hour chart
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