Bitcoin has been able to climb somewhat higher after finding relative levels of support in the low $3,900 region. Although its ability to maintain stability is certainly positive, BTC is getting closer and closer to the ever-so important $4,000 level, which could mean that significant volatility is on its way.<\/p>\n
Analysts are now expressing a somewhat cautiously bullish sentiment when it comes to the cryptocurrency, as it is showing some bullish signs, but must soon face an important hurdle at the $4,000 level.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up roughly 1% at its current price of $3,960. BTC has been slowly creeping higher over the past several days and recovered the stability it recently lost after it climbed to $4,000 before swiftly dropping to $3,900 yesterday.<\/p>\n Mati Greenspan, the senior market analyst at eToro, recently spoke to MarketWatch<\/a>\u00a0about Bitcoin\u2019s current state<\/a>, explaining that the cryptocurrency\u2019s trading volume is higher than usual, but is down from its recent highs.<\/p>\n \u201cBitcoin remains rather flat, still trying to break through the interim resistance at $4,000. The crypto rally may have lost some of its momentum, as volumes across exchanges do seem to be tapering off from their recent highs but remain elevated just under $30 billion per day,\u201d he explained.<\/p><\/blockquote>\n Chonis Trading, a popular cryptocurrency analyst on Twitter, recently pointed out that Bitcoin has been able to close above the middle of two tightening Bollinger Bands, but refrained from making any predictions.<\/p>\n \u201c$BTC – another daily candle closed above the middle of a tightening BB\u2026 bitcoin dominance 51% and over $10Bill in daily volume which is higher than average.\u201d<\/p><\/blockquote>\n $BTC<\/a> – another daily candle closed above the middle of a tightening BB….#bitcoin<\/a> dominance 51% and over $10Bill in daily volume which is higher than average <\/p>\n \ud83c\udfb1\ud83c\udfb0\ud83d\udea6\ud83d\udcc8\ud83d\udcc9\u264b\ufe0f pic.twitter.com\/dUWqTFjFwi<\/a><\/p>\n — BIG Chonis (@BigChonis) March 15, 2019<\/a><\/p><\/blockquote>\n\n