Bitcoin Two Scenarios: what can it bring?

What's in this article

Bitcoin is ranging indecisively above the support of $40,000. It showed some volatility in the last few days but it wasn’t enough to decide the future course of the crypto coin.

Bitcoin price today is $42,967.45 USD with a 24-hour trading volume of $28,688,722,410 USD. Bitcoin is up 0.31% in the last 24 hours, with a market cap of $813,335,993,627 USD. It has a circulating supply of 18,929,118 BTC coins. 

Source: Tradingview

Bitcoin: Analysis

Bitcoin’s support of $40,000 is very critical as it can play the role of triggering the huge bearish trend if broke downwards. Similarly, the resistance level of $50,000, above fib 0.5, will be a major troublesome as the selling pressure would rise. Above $50,000 we have the target of $58,000 in the bullish scenario. In the case of the bearish trend, the target is $30,000.

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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