Short-term downtrend bikoykana completed. Prices broke through an important level of the local maximum of $ 4,103 last Wednesday. At the time of writing this review, BTC is quoted at a price of $ 4,257 per coin. The growth was 327 dollars or slightly more than 8 percent.
Currently, the Crypto currency is traded in a wide range on the daily charts. Bulls need to go beyond the round figure of 4,500 dollars to start a new uptrend. In addition to the round figure, there are also two previous local maximums: $ 4,482 and the current $ 4,476. A decisive break above $ 4,500 can open the way to a repeat test of a round figure of $ 5,000. The absolute maximum for FXOpen is $ 4,960, in other large venues is approaching the level of $ 5 000. Breakdown of this important round level can lead to an increased price increase.
At the bottom of the chart, bears need a break below the local minimum of $ 2,970. Movement below in this case will technically resume the downtrend. Support above is in the $ 3,500 - $ 3,510 area, followed by a round figure of $ 4,000. The large gap between the two key levels ($ 2,970 and $ 4,500) reflects how unstable the situation for the crypto currency has been over the past time. In this regard, traders are recommended to make transactions of a smaller volume than usual. Despite the fact that on the daily charts BTC / USD is clamped in the range, on the weekly and monthly charts the pair still looks bullish.