COINBASE:BTCUSD Bitcoin/Dólar Americano
- Bitcoin price remains pivotal between $34,000 support and the 100 .
Buyers seem to have the upper hand, according to the .
Bitcoin has lagged the upswing from the dip under $30,000, mainly due to the immense resistance of around $35,500. The last few days have seen bulls and bears go head-to-head, but the robust support at $34.000 and resistance at 35,500 remained unshaken.
The flagship cryptocurrency trades at $34,500 at the time of writing amid a push by the bulls to overcome the hurdles for an ultimate uplift to $40,000.
What next if Bitcoin holds support at $34,000
The buyer congestion at $34,000 is crucial for the continuation of the uptrend. Therefore, defending it is a priority for the bulls.
Meanwhile, the Moving Average Convergence Divergence ( ) has a outlook on the four-hour chart. As the trend crosses into the positive region (above the zero line), the trend tends to flip . Moreover, recently the line moved above the signal line, implying that BTC was in the buy zone.
On the upside, the 100 ( ) barrier must come out of the way for gains heading to $40,000. Other hurdles to be broken include the 200 currently at $36,000 and the seller congestion at $38,000.
On the other hand, the immediate support at $34,000 must remain in place to support the uptrend. However, a leveling ( ) shows that the sideways trading will likely continue in the near term.
If the support at $34,000 breaks, Bitcoin will likely dive to the recent support range between $32,000 and $30,000. Perhaps trading at this level will help the bellwether cryptocurrency gain the momentum for gains past $40,000.
Bitcoin intraday levels
Spot rate: $34,550
Resistance: The 100 and $36,000
Support: $34,000 and $32,000