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Technical analysis

Bitcoin Price Strongly Bullish Above $4,400

OctaFx | Dec. 21, 2018
Bitcoin Price Strongly Bullish Above $4,400

December 21, OctaFX – The recent strong move higher in Bitcoin is approaching critical resistance, with the BTCUSD pair currently trading firmly above the $4,000 level.

BTCUSD Approaching Critical Upside Level

Buyers now need to break the $4,400 resistance level in order to trigger a large bullish inverted head and shoulders pattern. If price moves back under the $4,000 support level, the BTCUSD pair could revisit the important $3,300 level.

  • The BTCUSD pair strongly bullish while trading above the $4,400 level, key resistance is found at the $5,000 and $5,800 levels.
  • If the BTCUSD pair fails at current levels, sellers may test towards the $3,500 and $3,300 support levels.

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.