- The prevailing trend is slightly bearish but Bitcoin is supported by the 50 SMA 15–minutes.
- Kelly suggests that the next level Bitcoin is focusing on is $6,000.
BTC/USD is in the middle of consolidation following the sudden surge yesterday. Bitcoin went ballistic adding more than $900 in less than 24 hours. However, the bulls failed to sustain the growth towards $5,100 resulting in a retracement. The downside found balance below $4,700 before the bulls pushed for gains where BTC/USD approached $5,100 on Wednesday.