BTCUSD (H4): weak trading

A good start to the week

Bitcoin (BTC) has strengthened noticeably and is currently in the “red zone.” We can see a confident attraction to the resistance at $3881. It is also clear that “digital gold” forms an upward trend. This, in turn, serves as a positive signal, since the graph of the coin can go as high as $4,180.

At the end of yesterday, almost all cryptocurrencies showed strong growth. The growth leader was Ethereum (ETH) – it rose to $137 with a change of +10.53%. Lightcoin (LTC) was slightly weaker – it rose to $44 with a change of +1.21%.

The level of capitalization of the cryptocurrency market forces to expect Bitcoin at higher price levels. The current mark is at around $125 billion. Market participants noticeably intend to invest further in strong coins.

News supports the growth of Bitcoin

News background supports the growth of crypto. It became known that Forbes has supported cryptocurrencies, and stressed that Bitcoin is a reasonable means of payment. The Canadian regulator decided to level mining to securities transactions. This is done to protect investors from unscrupulous mining companies.

Bitcoin technically created the basis for an upward trend – the prospect of reaching such levels as $3881 and $4180 will appear in the near future. In the case of an adverse scenario, digital gold will test support at $3,740.

Good news and the growth of the fundamental component of the market contribute to the strengthening of digital currency. If Bitcoin will confidently overcome the $4000 mark – we can say that the “bottom” has been passed.

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