Bitcoin (BTC) Tests Resistance after Near 13% Rise on Wednesday

Bitcoin (BTC) had a big jump on Wednesday and so far it is up 13%. The next level of resistance is $40,000. It has stopped Bitcoin from going up a lot in the past two weeks.

Bitcoin (BTC) Tests Resistance after Near 13% Rise on Wednesday

The short-term trend is looking better. Prices are going up after a series of lower high prices. The weekly chart is showing signs that the price might go back up soon. This could help stabilize the monthly price that has been going down for a long time.

  1. Bitcoin’s price went up again and is now close to being too high.
  2. The buyers for the house might be active at $40,000 which is also near the 200-day moving average. The cryptocurrency was trading around $38,000 at press time.
  3. Bitcoin is a type of money. If it goes down, there is probably a support around $34,000.
  4. Bitcoin will need to get out of the short-term phase and keep going up. It has been very strong for a long time, but it is going to be hard.

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