Bitcoin price reclaims $3,900 support: Eyes on $4,000

70% of millennials would invest in the cryptocurrency assets if they were offered by traditional financial institutions.
The buyers have their eyes fixed on $4,000, as long as they can sustain growth above $3,900.

Bitcoin bulls appear to be making a comeback following the retracement from the weekly highs on Thursday. The gains in the last three days failed to break past the psychological $4,000 level as the trend culminated in declines below $3,900. At present, BTC/USD is trending 0.95% lower with the current value at $3,901.41.

A report from eToro latest survey shows that at least 70% of millennials would invest in the cryptocurrency assets if they were offered by traditional financial institutions. 40% of the millennials “online traders’ were said to have “less faith” in how the stock market is performing in comparison to the digital asset market.

As discussed earlier, Bitcoin path of least resistance is still to the south. The Relative Strength Index (RSI) has retreated below the overbought region for the first time since Monday. The bearish trend is confirmed by the slow stochastic oscillator which has changed direction downwards. Meanwhile, the buyers have their eyes fixed on $4,000. Besides, support above $3,900 will allow them to gather strength to face the resistance towards the psychological level.

BTC/USD 4-hour chart

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