BTCUSD Medium-term Trend: Bullish
- Resistance levels: $7,000, $7,200, $7,400
- upport levels: $3,800, $3,300, $3,100
Last week the BTC price was fluctuating between the levels of $3,800 and $3,900 . Since on December 25, the $4,000 price level had been tested and repelled on more than three occasions.
On June 5, the bulls broke the $4,000 price levels and reached the high of $4,218. If the bulls sustain their hold above the EMAs and more buyers are introduced at the $4,000 price, Bitcoin will rise to reach the previous highs of $4,500 and $ 5,000. Bitcoin is likely to rise because the stochastic is above the 40% range.
BTCUSD Short-term Trend: Bullish 
Bitcoin Chart by Trading View
On the 4-hour chart, the crypto’s price is in the bullish trend zone. Since December 31, the crypto’s price was fluctuating below and above the 12-day EMA and the 26-day EMA. On June 6, the crypto was above the EMAs. The EMAs became a support level for the bullish trend as the price reached the high of $4,218.
The retraced price was well supported by the 12-day EMA. If the bulls sustain a price above the $4,100 price level, the price of Bitcoin is likely to rise.
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