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  • BTC/USD jumps over 9% in the session, capitalizing on the rebound from Tuesday’s session.
  • Upside targets are eyed at $4500-600 region, further north, $5000 mark, last here on 19th November.  

 

The Bitcoin price was seen up with chunky gains of over 9% on the day. Advances are seen across the board on Wednesday, thanks to a recent bottoming over the past few sessions. The foundation has been laid for a decent recovery.

BTC/USD bulls are currently testing some 4-hour resistance, which was a previous area of support between 21-23 November. Enough momentum should see the price jumping back up towards $4500-600 price region.

As mentioned above, should the bulls break down the resistance in proximity to the current price, $4150-200, a burst higher could be seen. Further north, there does not appear to be too much in the way of resistance to see a reclim of $5000. The price was last seen trading here on 19th November.

 

BTC/USD 4-hour chart