Bitcoin price has had a blistering start to the week up 10.6%, hitting highs on Tuesday of $4,000, stirring some distant memories of the 2017 bull runs. We take a pause mid-week to consider what might be next now we have already hit the target discussed on Monday.
Bitcoin price is up 1.5% ahead of the US session kicking off. With previous psychological resistance looming overhead at $4,000, BTC will have work to do to breakdown some of the sell-walls across most exchanges.
In good news for the bulls, the MAC-D on the daily chart has crossed zero for the first time since August 2018 and there are no signs of bearish divergences in this move yet.
The CMF is starting to show some sign that there the bullish pressure is starting to ease off, which is what would be expected as we reach towards $4,000.