Bitcoin Price Analysis: What can the weekend do?

Bitcoin is under clouds after it broke below the ranging zone of $45000 support and $52,000 resistance.

Bitcoin price today is $41,654.04 USD with a 24-hour trading volume of $72,407,909,884 USD. Bitcoin is down 3.13% in the last 24 hours, with a market cap of $788,196,727,709 USD. It has a circulating supply of 18,922,456 BTC coins. 

Bitcoin price
Source: Tradingview

Bitcoin price: Analysis

Yesterday we marked the local support of Bitcoin at $40000 and now the price is punching that level. There will be a bunch of orders waiting to be filled at $40,000 support and we might witness a sharp green spike. Now keeping that candle green will be the only chance for bulls as below this support level, the drop will be fatal as the head and shoulder pattern will trigger a huge bearish rally. Bitcoin has resistance at EMA 100 near $45,000 and the next Support level is below $35,000, fib 1.272.

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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