March 7, OctaFX – Bitcoin price is attempting to stage an upside recovery on Thursday, after key trendline support on the daily time frame held firm earlier this week.
Bitcoin price analysis: BTCUSD bullish above $3,650
If BTCUSD bulls can move price above the February trading high, the number one cryptocurrency is likely to test its 100-day moving average, at $4,200. The daily time frame also shows that the Stochastic and RSI indicators have turned bullish.
The BTCUSD pair is bullish while trading above the $3,650 level, key technical resistance is found at the $4,000 and $4,200 levels.
If the BTCUSD pair trades below the $3,650 level, sellers may test towards the $3,500 and $3,300 support levels.
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