Bitcoin managed to break above the $ 42,000 resistance zone, climbed to $ 43,300 and now the price is consolidating to $ 42,850. If the price plans to stay above and continue on the bullish side, it should find support above $ 42,600. If it succeeds, our next target is the zone of the previous high from the beginning of March, around 45,000 dollars. For the bearish option, we need a new negative consolidation and a withdrawal below $ 42,000. At $ 41,000, we find support in the MA50 moving average, and in the $ 40,000 zone, we have additional support in the MA200 moving average. A drop below $ 40,000 would increase bearish pressure. After that, our target is the support zone 37200 -37675 dollars.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.