We found the upside breakout of the well-defined trading range in the background, which is sign that buyers are in control. The short-term trend is bullish and the Keltner channel is going upwards, which are all signs of the strength. Resistance levels are found at $4.158 and $4.270. Support level is found at the price of $4.020.
Trading recommendation: We are long BTC from $4.070 with target at 4.158. Protective stop is placed at $3.983.
The material has been provided by InstaForex Company - www.instaforex.com