Bitcoin Price Watch: BTC/USD Could Recover Toward $4,800

Key PointsBitcoin price extended losses and traded close to the $4,000 support against the US Dollar.
There was a break above a major bearish trend line with resistance at $4,451 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price seems to be preparing for an upside correction towards the $4,800 level in the near term.Bitcoin price declined towards $4,000 before buyers appeared against the US Dollar. BTC/USD could correct higher towards the $4,750 or $4,800 resistance.
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