Bitcoin has completed a complete cycle on my broader (2022) channel, following its recent plunge near the $39K low. That said, bearish exhaustion has set in, as the daily stochastic indicator suggests that BTC has fallen into oversold conditions.

Over the coming days, I expect the primary cryptocurrency to push for the $48K top, with the monthly target pegged at $51K. While this rally is already underway, BTC needs a break above the $43K point as we head into the weekend to break through sell-walls and keep bears at bay.

Meanwhile, my resistance levels are at $42,000, $43,000, and $44,000, and my key support levels are at $40,000, $39,000, and $38,000.

Total Market Capitalization: $1.90 trillion

Bitcoin Market Capitalization: $779.5 billion

Bitcoin Dominance: 40 .9%

Market Rank: #1