Bitcoin has been quite bullish recently with a pre-breakout squeeze just below the important price level of $4,000.00. After the Chinese negative impact on the Bitcoin growth recently, ECB President Draghi showed interest in Bitcoin. Yesterday, Draghi delivered some positive comments on Bitcoin, providing the cryptocurrency with a positive push, which is also perceived as a positive sign for the upcoming growth. Draghi quite favored Bitcoin and he is very much looking forward for the digital currency future in other countries. As the price had a bullish pre-breakout squeeze recently below $4,000.00 and as per the recent event, Bitcoin is expected to break above $4,000.00 in the coming days with the target towards 4,386.80 and later towards $4,500.00. After the recent Kijun and Tenkan cross and Chikou Span broke above the candle resistance, the probability of breaking above $4,000.00 increased significantly and further bullish move is expected as the price remains above $3,750.00 with a daily close.

With InstaForex, you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader 4.