Bitcoin's price pullback is seen yielding a more sustainable rally to $8,000, according to technical studies.
Bitcoin could witness a minor technical correction before rising to the $8,000 mark.
BTC found acceptance above the 50-day moving average support on Monday, however, a bull reversal is still not confirmed.
Bitcoin is solidly bid at six-week highs and could soon witness a short-term bearish-to-bullish trend change.
Bitcoin (BTC) could soon test $6,400, having seen a high-volume reversal from the two-week lows hit yesterday.
Bitcoin risks falling below $6,000, the bearish continuation pattern seen no the hourly chart indicates.
Litecoin is reporting gains on Wednesday, following news that its foundation has acquired a stake in a German bank.
Despite the recent downturn, BTC could create a major bullish reversal pattern over the next few days.
A daily close (as per UTC) below 10-day moving average would abort bitcoin's short-term bullish view.
BTC is showing signs of exhaustion near a key resistance zone, still, the short-term outlook remains bullish.