Bitcoin Price Prediction: BTC/USD bulls struggling for juice to conquer $4000 – Confluence Detector

Bitcoin price in the second half of the session of Wednesday trading with gains of over 2%.
BTC/USD bulls continue to struggle to conquer the $4000 price territory.

Ken Chigbo Independent Analyst

Bitcoin price in the latter part of Wednesday session was trading up with gains of some 2%. As the bulls look to the further storm above the supply area seen within the early $4000 price territory. BTC/USD pushes up to the highest levels seen since 21st March.

BTC/USD bulls extend further to the north following a decent catch from support seen just below, a tracking ascending trend line. It has been active since mid-February, providing necessary comfort when required.

Given current upside momentum, eyes must be on the next big areas of resistance. Firstly; $3985.65, daily 10SMA, weekly pivot point support, weekly 38.2% Fibonacci, $4068.98, weekly pivot point resistance and $4193.98 weekly pivot point resistance.

BTC/USD daily confluence detector

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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