fxs_header_sponsor_anchor

Bitcoin Price Analysis: BTC/USD bulls are breaking big barriers jumping to $5100

  • Bitcoin price on Wednesday has rallied a whopping 4% to the highest levels seen since November 2018.
  • BTC/USD bulls are breaking down resistance seen within the $5000-5100 range. Eyes are on the next major barrier around the $5500 territory.

The Bitcoin price in the latter part of trading on Wednesday is further jumping to the north, up with gains of over 4%. BTC/USD trades at its highest levels since November 2018, as the bulls further breakdown areas of supply.

BTC/USD has further extended after briefly breaching the big psychological $5000, mark in the session on Tuesday. Bulls will be looking to reverse the large drop which was seen in the month of November 2018.

The next major area of resistance is observed from $5500-600 price range. BTC/USD last traded within this territory between 14-19th November, before further free-falling to the deep south. A clearance here could then open the door for a return to $6000. 

BTC/USD daily chart

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.