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Bitcoin price analysis: BTCUSD bulls target $6400

OctaFx | May. 10, 2019
Bitcoin price analysis: BTCUSD bulls target $6400

10 May 2019, OctaFXIn this Bitcoin price analysis, BTCUSD has advanced to a fresh 2019 trading high in early Friday trade, with number one cryptocurrency by market capitalization testing towards the $6,300 resistance level.

Bitcoin price technical analysis

The $6,400 level is the major resistance area to watch if the $6,300 level is broken. If the $6,400 level is breached, the four-hour time frame is showing that BTCUSD bulls could target the $6,900 resistance level.

  • The BTCUSD pair is bullish while trading above the $6,000 level, key intraday resistance is found at the $6,400 and $6,900 levels.

  • If the BTCUSD pair trades under the $6,800 level, sellers may test towards the $5,860 and $5,620 support levels.

Bitcoin price analysis, BTCUSD bulls

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.