Bitcoin looks to come up for air above $40,000 but key resistance still in place
26 May 2021
Bitcoin moves above $40,000 but runs into 200-day moving average
Bitcoin is looking to find a new lease of life as it rises above $40,000 again today with buyers hoping to try and keep above the key psychological level.
That said, there is still key resistance in the form of the 200-day moving average (blue line) @ $40,640 and that will be an important level for buyers to break above in order to tilt the balance back in their favour – at least from a technical perspective.
The near-term chart is encouraging though, with Bitcoin now rising above its key hourly moving averages after several attempts having stalled so at least there is some positives when viewing the charts at the moment.