Crypto Currency News

The new resistance that bitcoin will face above $ 40,000

The cryptocurrency broke the barrier in the last hours.

After several weeks of navigating the gap between 30 thousand and 40 thousand dollars, bitcoin (BTC) broke this Wednesday, for a few hours, the barrier of USD 40K with a jump of 7%.
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Katie Stockton , Technical Analyst and Founder of Fairlead Strategies, suggested that should it overcome the resistance at $ 43K , the cryptocurrency could take another leap towards $ 51K .

After establishing support above $ 37,000 for 48 hours, BTC seems ready to definitely break above $ 40K and resume the rally. However, it has several key resistances ahead: $ 43,000 and $ 44,600 . According to experts, at this last level is the 200-day moving average.

” Bitcoin tested and held widely observed support near $ 30K in our anticipated higher ‘spring’ after it curled in the context of its long-term uptrend ,” Stockton noted.

The cryptocurrency began to rise Sunday night, after a rumor emerged that Amazon would accept crypto payments in the short term . The next day, the technology giant denied the news, but investor sentiment did not change, which has meant an even more important boost than the rumor of the weekend .

On the other hand, in the last few hours there have also been new predictions in the market. Mike Alfred , CEO of Digital Asset Data, dared to forecast a price of one million dollars for each unit of BTC by 2031.

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