Ken Chigbo
Independent Analyst
- Bitcoin price in the latter part of the session on Wednesday, nursing minor losses of 0.25%.
- Bulls are continuing to struggle breaking down the $4000 price territory, not enough momentum at present.
Bitcoin price late in the session on Wednesday is trading down in negative territory by some 0.25%. BTC/USD appears to be very much within consolidation mode, struggling to breakdown the $4000 price region for the time being.
BTC/USD has demonstrated it is on strong road to recovery, which has been the case since early February. The bulls have managed to gain around 20% since 7th February, but a gradually slowing down within the earl $4000 price territory.
In terms of key big levels to be aware of via the daily chart view, to the upside; $4016.97, daily 23.6% Fibonacci, weekly pivot point resistance, $4100.09, daily and weekly pivot point resistance. To the downside; 3975.41, daily pivot point support, daily 61.8% Fibonacci, $3933.85, daily pivot point support.
BTC/USD daily confluence detector
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
US SEC Crypto Task Force to host the first-ever roundtable on crypto asset regulation
The US Securities and Exchange Commission Crypto Task Force will host a series of roundtables to discuss key areas of interest in regulating crypto assets. The “Spring Sprint Toward Crypto Clarity” series’ first-ever roundtable begins on Friday.
Bitcoin stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
BTC, ETH and XRP stabilize as SEC Crypto Task Force prepares for First roundtable discussion
Bitcoin (BTC) price hovers around $84,500 on Friday after recovering nearly 3% so far this week. Ethereum (ETH) and Ripple (XRP) find support around their key levels, suggesting a recovery on their cards.
XRP sees growing investor confidence following SEC ending legal battle against Ripple
XRP whale holdings and network activity signal rising optimism among investors. However, signs of bearish sentiment in the derivatives market could hamper XRP's price growth.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin (BTC) price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the United States (US) Securities and Exchange Commission (SEC) that Proof-of-Work (PoW) mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.