Bitcoin Price Analysis: Why the Defense at $4,000 Will Not Hold

TweetShare The break above $4,000 has not really changed the interim bias of the bitcoin market. The cryptocurrency on Wednesday remained largely unchanged on its 24-hour adjusted timeframe. The news of a possibly peaceful end to the ongoing US-China trade talks allowed global markets to establish their fresh intraday highs. Investors, meanwhile, focused less on their bitcoin portfolios after finding more opportunities in the Dow Jones, Nasdaq and S&P 500 markets. The silence in the bitcoin market also alarmed bulls of their fading dominance after an impressive rally this week. The BTC/USD rate managed to stay above $4,000, its psychological support, across the Asian and European session. The pair now awaits a breakout action, but its arrival cannot be predicted. Bears have more dominance in the bitcoin market as bulls go back into sleep mode. It is clear that buyers are waiting to enter any extended long positions on a…

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