Bitcoin knocking on the door of $40,000 again today
The high today hit $40,352 but price is trading back just under the key figure level for now, as buyers continue to look poised in search of a fresh upside push.
It’s all about the technicals once again for Bitcoin, after having defended a slump towards $30,000 just one week ago. How quickly things have changed.
The $40,000 mark is the key resistance level to watch on the daily close and adding to that are the 100-day moving average (red line) @ $40,470 and then the 26 May and 15 June highs at the region of $40,900 to $41,322.
That provides a clear line/region in the sand for buyers to cross in order to establish fresh upside momentum and break away from the consolidation range since mid-May.