Yet again volatility spikes up within the crypto space as the star crypto breaks through the consolidation successfully. The BTC prices’ constant attempts of breaching through the levels finally is successful now. Additionally, Bitcoin not only smashed the $41,000 but also seems poised to hit the pivotal levels at $42,000 at the earliest. But will the price sustains above these levels firmly or yet again get rejected as it happened a couple of times before?
Bitcoin ignited a sudden spike a couple of hours before and broke through the consolidation, it was swinging for the past 10 days. The asset fell into a deep bearish sea below $34,500 in these 10 days but ignited a strong rebound within a short time. Moreover, the BTC prices are required to raise some more to trade above the danger area and above the fear of an interim plunge.
As mentioned by the analyst, Bitcoin made its highs close to $46,000 a couple of times since the beginning of 2022. And hence these levels are pretty important to regain to maintain a notable uptrend. Bitcoin has been traded in pretty high volumes in between $38,000 and $39,800 since the past couple of days. Moreover, the asset has been rejected just below $40,000 at $39,800 multiple times. Yet the asset accumulated huge gains and sliced through the $40K resistance zone to test higher highs.
Bitcoin as long as it is hovering above $40,000 is pretty bullish and if it achieves the diagonal resistance at $43,130, a strong uptrend may be ascertained. The BTC price after attaining these levels may overextend the diagonal resistance through the week. While a weekly close above these levels may ignite a notable uptrend later.