Bitcoin is bouncing off a short-term area of interest visible on the 1-hour time frame. This could keep it on track towards testing the next upside targets marked by the Fibonacci extension tool. Price is closing in on the 38.2% level at the $4,000 major psychological mark, which might serve as a take-profit point again. The 50% level lines up with the swing high around $4,040 that might also lead cautious buyers to book profits. Stronger bullish momentum could take price up to the 61.8% Fib at $4,062.80 or the 78.6% level at $4,100. The full extension is located at $4,168.70. The 100 SMA is above the longer-term 200 ... (full story)