- The bullish correction today has reinforced the short-term bullish outlook.
- Bitcoin to defend support at $4,055 in the coming sessions today but the upside will remain capped at the 5-week high ($4,100.76).
Bitcoin bullish bias continues to send the crypto above key barriers. BTC/USD has not only corrected above $4,000 this week’s high but also hit a 5-week high around $4,100.76. It is also up 1.77% on Friday following a +70.944 relative price change on the day. The bullish correction today has reinforced the bullish outlook that was staged Bitcoin recovered from a low around $3,850. The short-term bullish is likely to vanish if Bitcoin is not able to close the session today above $4,055 (March 21 high).