Bitcoin has been sitting in a tight range for a week. The breakthrough is likely to be on the downside. A failed attempted to settle above $4,000 handle discouraged BTC bulls for a while as the first largest coin spend the week in a tight range close to $3,800. Nearly all daily candles on BTC/USD chart are Doji-candles, which is a signal of extremely high uncertainty on the market and implies the continuation of the downside trend with the first aim at $3,700-$3,680 (DMA100) closely followed by $3,630 (DMA50). From the longer-term perspective, the ultimate support is created by $3,400 strengthened by SMA200 (weekly chart). The price may retest this area before a new recovery wave. The bulls need to take the price above $3,900 congestion zone; however, their main focus is on psychological $4,000 and the recent high of $4,187. We will need to see a sustainable move above this area for the recovery to gain traction. In this case, BTC/USD may reach $5,000 quickly. This barrier is fortified by DMA200, that may keen bulls’ enthusiasm in check. BTC/USD, 1D chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Shanghai Composite Hits 8.5-month high, 50- & 100-day MA bull cross confirmed FX Street 4 years Bitcoin has been sitting in a tight range for a week. The breakthrough is likely to be on the downside. A failed attempted to settle above $4,000 handle discouraged BTC bulls for a while as the first largest coin spend the week in a tight range close to $3,800. Nearly all daily candles on BTC/USD chart are Doji-candles, which is a signal of extremely high uncertainty on the market and implies the continuation of the downside trend with the first aim at $3,700-$3,680 (DMA100) closely followed by $3,630 (DMA50). From the longer-term perspective, the ultimate support is created by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
