Bitcoin is Trading Above $4.000

After a fall from about $5.200 to below $3.000 bitcoin is again trading above $4.0000

 

Where will the prices go from here? Is this a real recovery or will prices continue to fall? Price analysis is saying that the key target is if bitcoin ends the day above $3958 ( 50-day moving average). The trend line from September 2nd and September 8th highs will offer resistance around $4250, if bitcoin goes above that level we might see new record highs in the coming days.

Only a daily close below $3.600 would indicate a bear market.

 

Photo source:  https://www.coindesk.com

Tags: