Bitcoin remains at the level 4450$

Bitcoin remains at the level 4450$

In the uptrend of BTC/USD pair, the price gets resistance in the area of 4450. From this level the sales of average volume begin. It is obvious that a part of players will decide to close the position and fix the results, and the other players are starting to buy Altcoins, where after the correction lots of attractive offers are formed.

The nearest significant support is at the level 4050, first, it is the consolidation of the players’ interest, expressed in the horizontal volume, second, it is the lower limit of the ascending channel. Here the price is greatly possible to rise above the level of 4450 trying to reach the targets in the range of 4800-5000.

The targets set above have been remaining unchangeable from August, 22 when the price reached the local minimum at the level of 3600. Here the second “lever” was formed, which validated the reference points of growth for the nearest future.

The medium-term support is at the levels of 3500 and 2800, which is proved both by Fibonacci correction levels and the consolidation of horizontal volume. At the moment there are no prerequisites for such a strong correction.

Generally, we continue to move in the ascending channel to the targets of 4800 and 5000, and for the time being, there are no substantial grounds for thinking that these targets will not be reached.

I wish you successful trades!

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