There is this last resistance for Bitcoin to rise

What's in this article

We have some positive news “Iran will use cryptocurrency for international trades”. Trade works on speculations where FUDs drop the prices while such good news pushes the prices up.

 Bitcoin price today is $43,747.91 USD with a 24-hour trading volume of $76,378,781,216 USD. Bitcoin is up 1.24% in the last 24 hours, with a market cap of $828,056,893,024 USD. It has a circulating supply of 18,927,918 BTC coins.     

Source: Tradingview

Bitcoin: Analysis

The $40,000 is strong and tested support and a local pump was evident from here. The price rise is healthier though – making higher highs. Bitcoin is now resting below the bearish trending line, probably the last resistance. Breaking above from this trend line and EMA 100 might turn up high volatility followed by a huge bullish price rally to the highlighted red zone of $49,000, 0.236. For this, however, bulls need to keep the price above $43,000 support to give a chance to new buyers to get on the train. 

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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