Bitcoin price is making familiar moves as it hovers around $39,000 on Monday. BTC has found reliable support around $37,000 since late January. Sellers are accumulating liquidity and signaling a reversal to the upper trading zone, which ranges from $45,000 to $42,000 in the supply zone. Featured titles;
- Bitcoin price is trading with significant gains as the new trading week begins.
- It is moving within a familiar trading range of $38,000 and $42,000 for a month.
- BTC could test the next $42,000 as the bulls try to cross the descending trendline.
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Bitcoin seeks an exit
Bitcoin price remains under pressure around $39,000 and is struggling to rise. In today’s session, BTC opened lower, but at 39,220.0, the test session high.
ACCORDING TO TECHNICAL INFORMATION, RISE IS EXPECTED FROM THE CURRENT PRICE LEVEL. INITIAL TARGET SHOWS $40,756.05 AT 50-DAYS EMA (moving average indicator).
Technical indicators
RSI: (Daily relative strength index) is trying to break above the average line with an uptrend.
MACD: (Moving Average Convergence) is hovering below the midline. However, the indicator can move in the positive direction with the upside momentum.
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Disclosure: Authors are invested in cryptocurrency projects and have cryptocurrency holdings – including those covered on this website.
