{"id":28699,"date":"2022-05-31T09:04:27","date_gmt":"2022-05-31T13:04:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=28699"},"modified":"2022-05-31T09:04:38","modified_gmt":"2022-05-31T13:04:38","slug":"bitcoin-btc-now-aims-at-40000-after-breaking-through-resistance","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-btc-now-aims-at-40000-after-breaking-through-resistance\/","title":{"rendered":"Bitcoin Now Aims at $40,000 After Breaking Through Resistance"},"content":{"rendered":"\n

After breaking through the important consolidation channel Bitcoin (BTC)<\/a> is now heading to reach the $40,000 price<\/p>\n\n\n\n

\"Bitcoin
Bitcoin Now Aims at $40,000 After Breaking Through Resistance<\/figcaption><\/figure>\n\n\n\n

BTC Aims At $40,000<\/h2>\n\n\n\n

Bitcoin's long-awaited breakout from the consolidation channel may herald a rally above $40,000, which would be a major reversal signal for the digital gold, which has been in a downtrend since November.<\/p>\n\n\n\n

Bitcoin<\/a> has successfully bounced off the June 2021 support, which established the cornerstone of a bull run to nearly $70,000, and is currently trading at $32,000, according to the daily chart. <\/p>\n\n\n\n

Except for resistance generated by technical indicators such as moving averages, the daily chart shows no resistance levels ahead.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The 50-day resistance line, which functions as a guideline for both up and downtrends, is the first MA resistance that BTC must breach. A breakthrough would normally signal a trend reversal for an asset that moves in both directions.<\/p>\n\n\n\n

In the case of Bitcoin, traders and investors have yet to invest massively in digital gold, which is still under heavy selling pressure after dropping almost 24% of its value in a matter of days at the start of May.<\/p>\n\n\n\n

Bitcoin has also bounced off the 200-week moving average on longer timescales, such as weekly or monthly. The rebound does not imply that BTC will enter a long-term bullish trend, but it has never fallen below the indicated support level in its recent history.<\/p>\n\n\n\n

This week's trading volume was well below average, with 3,800 BTC exchanged on exchanges like Bitstamp, compared to an average of over 10,000. Bitcoin is currently trading at $31,734 and has shown no movement in either direction as of press time.<\/p>\n\n\n\n

After a huge gain yesterday, Ethereum and other altcoins are performing similarly today. According to reports, the market is waiting for the opening of the US stock exchanges.<\/p>\n","protected":false},"excerpt":{"rendered":"

After breaking through the important consolidation channel Bitcoin (BTC) is now heading to reach the $40,000 price BTC Aims At $40,000 Bitcoin’s long-awaited breakout from the consolidation channel may herald a rally above $40,000, which would be a major reversal signal for the digital gold, which has been in a downtrend since November. Bitcoin has […]<\/p>\n","protected":false},"author":29,"featured_media":14816,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[76],"tags":[5371,6119],"class_list":["post-28699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-price","tag-bitcoin-2","tag-bitcoin-price-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/Asian-stock-market-sell-off-on-Monday-adds-to-the-volatility-of-Bitcoin-and-cryptocurrency.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=28699"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14816"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=28699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=28699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=28699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}