- Bounces back twice this week from $4k.
- Some more bounce imminent.
Bitcoin, the cryptocurrencies’ poster boy, managed to bounce back from $4,000 levels, twice within this week, giving some respite to the mauled bulls who have been whacked left, right and centre in the last few days ever since prices started cracking from $6,000 levels as if all hopes have been lost.
BTC/USD is up nearly 0.6 percent on day at $4,310 in a low volume, lesser volatile weekend trading – a breather from the heightened volatility days of the past few days.
What comes as a healing for the bulls is that bears have not been able to take prices below $4,000 this week, even though it went close to that twice this week. Oversoiold RSI too came to the rescue for the bulls, while a bounce from the lower bollinger bands is expected towards at least middle range of the bands which stands at $5,500 – 21 days SMA too there. Bulls wouldn’t ask for anything more than that after losing the battle.
BTC/USD daily chart:
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