Bitcoin is now the focus of everyone’s attention, after breaking the 35 thousand resistance and the trend towards everyone’s favorite color, which is green. The rise of Bitcoin has helped push Altcoins with it greatly, which made everyone in a state of optimism, which will of course increase if Bitcoin can reach the price of 40 thousand dollars.
But looking at the current situation, we find that the conflict in which Bitcoin is not easy, which is witnessing a violent confrontation between bulls and bears.
Bitcoin, after dropping beneath $30,000, started to recover, climbing and shifting away from its lowest stage in 2021.
Currently, the bitcoin price is dealing with a resistance between $35,000 and $35,500.
The past few days have considered a confrontation between the bulls and the bears, but the sturdy guide at $34,000 and resistance at 36,000 have remained intact.
The fundamental cryptocurrency is presently buying and selling at $35,900 at the time of writing amid a push by way of bulls to overcome hurdles for a remaining rally to the $40K level.
What subsequent after Bitcoin holds the assist at $34,000?
The buying congestion at $34,000 is indispensable for the upside continuation.
Therefore, defending this stage is a precedence for the bulls.
When the style momentum indicator crosses into the advantageous territory (above the zero line in the chart below), the vogue tends to the upside.
In addition, the MACD line has recently moved above the signal line, which capability that Bitcoin is in the buy zone.
On the different hand, the on the spot guide at $34,000 ought to continue to be in location to aid the upside.
If the $34,000 guide breaks, Bitcoin will probably dive to the latest support range between $32,000 and $30,000.
Perhaps buying and selling at this stage will assist the greatest cryptocurrency by means of market capitalization, gaining momentum in extra of $40K.
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By @natalia-irish
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