Bitcoin Technical Analysis

BITFINEX:BTCUSD   Bitcoin / Dollar
The Bitcoin network and price has been heavily influenced by bitcoin and segwit. With segwit approved the bitcoin network can now handle more transaction per block and therefore more transaction per day. as we said in previus analysis 4300$ Resistance will decide where the price of bitcoin can flow. Bitcoin Now trading above 4300$ and Moving towards next station which will be 4500$.in technical POV(Point Of View) we may say that Bitcoin can Hit once Again #ATH which will be 5000$. Technical indicaters signaling a Bullish movement Towards upper level. And #RSI now bounced back to moving upside after signaling a downtrend.
4500$ looks like a strong resistance, if Bitcoin Succeed to take over this resistance next stop will be 4700-5000$, 3900$ still looking a nice support at the moment. Trend Lines marked on Chart

Good Luck!
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