Bitcoin Tests $40K!!
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Bitcoin had a small relief rally from lows at $37.7K as we anticipated yesterday. We weren’t expecting anything big, but the double bottom at lows and sold off conditions predicted a small bounce. The rally in stocks helped as well. Currently, we are facing resistance from $40K, confirmed by a red triangle on the KRI . We expect resistance here, but if we are able to break through we will surely face more resistance at $42K, which is likely a barrier for now. If we reject $40K, then we could feel out the range between $40K and $37.7K, the latter likely to hold as a floor price for now.
