Ken Chigbo
Independent Analyst
- Bitcoin price is trading in minor positive territory on Wednesday, up with gains of 0.15%.
- BTC/USD daily ascending trend line continues to support the bulls in their recovery.
- Bulls are gradually chipping away the away of supply seen in the early part of the $4000 price territory.
Spot rate: 4002.11
Relative change: -0.13%
High: 4017.20
Low: 3963.92
BTC/USD 60-minute chart
- Price action is moving within a narrow range-block formation, subject to a potentially explosive breakout to the upside.
BTC/USD daily chart
- Long-running ascending trend line still playing a huge part in the bulls push for recovery.
- Supply zone running from $4000-4100 price range, capping upside momentum.
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
Kraken to launch US-listed stock and ETF trading services after $30 million SEC settlement
/definition-of-etf-21007500_XtraSmall.jpg)
Kraken has indicated plans to diversify, with intentions to leverage the first-mover advantage towards ETF. Meanwhile, the crypto markets continue to appeal to the US SEC for a nod amid a long pile of applications already on the financial regulator’s desk.
Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst
While spot Bitcoin Exchange Traded Funds (ETFs) approval has been a matter of controversy in the United States, Ethereum Futures ETFs' might not be. The Securities and Exchange Commission (SEC) is most likely to approve the trading of ETH ETFs in the next seven days.
Chainlink price might face a correction before it can climb back to 2023 highs
Chainlink price has performed exceptionally over the past couple of days, making room for profits for investors. However, further gains from here on would warrant a market cooldown before the rally can continue.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC, ETH, XRP at catch 22 moment
Bitcoin (BTC) price is trying to lead the rest of the market into recovery. However, it faces a key obstacle, same case for Ethereum (ETH) and Ripple (XRP) positioning the top three cryptocurrencies in a muddle.
Bitcoin: BTC downside likely after 20-week EMA culls bulls
Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.