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Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

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albert roin
Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

The pair of BTC/USD broke the $4,400 and $4,700 levels of resistance or conflict to start a solid rising move.

There was a close resistance over the $4,200 and the hundred-day moving average.

The bulls pushed the price over the 50% Fib retracement level of the previous major failure from the $6,560 high to $3,115 low.

Now it is trading fit above 76.4% Fib retracement level of the main decline from the high to low $6,562-$3,115.

These are positive signs, proposing more gains above the $5,900 level.

So, there are chances of a strong bearish reaction from $6,100, $6,500 or $6,800 in the future upcoming days.

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albert roin
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