Bitcoin needs to stabilize

Bitcoin needs to stabilize a bit before moving further higher

Bitcoin needs to stabilize before moving further with this pattern. BTC has strong support just under $40k that can be helpful in the coming days. Currently, BTC is exchanging hands above $41k per unit.

 Bitcoin needs to stabilize

Over the last couple of days, BTC has been retracing to find test its support level. It seems that currency has tested its support level around $39k with a 200 moving average. We can expect that price will go in an upward direction to $46k and if bullish momentum continues then we might see BTC moving to $50k. But if BTC reverses its direction backward and breaks Support around $39k then we might see another bearish cycle in the whole market.

The reverse action of BTC might take it to the $34k support level which can be pretty bad for the whole market. Bitcoin needs to stabilize around the current support level to continue its journey.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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