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.
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