HomeCryptocurrencyWhat awaits Bitcoin in the new week

What awaits Bitcoin in the new week

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

btc

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.

Check out our other altcoin analysis and reviews:

Not Investment Advice

The information provided in this article is intended for general guidance and information purposes only. Contents of this article are under no circumstances intended to be considered as investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly encourage you to do your own research before taking any action. Although best efforts are made to ensure that all information provided herein is accurate and up to date, omissions, errors, or mistakes may occur.
Disclosure: Authors are invested in cryptocurrency projects and have cryptocurrency holdings – including those covered on this website. 

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

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