Bitcoin Revisits $40K, Is It Going to Hit a New ATH?- Jan. 15th

Bitcoin price recovered and surged above the $38,000 resistance against the US Dollar. Its price spiked above $40K and it is likely preparing for more upsides. A high is formed near the $40,212 level and the price is currently consolidating gains.

It corrected below the $39,500 and $39,200 levels. A low is formed near the $38,052 level and the price is currently forming a breakout pattern. If there is an obvious upside break above the triangle resistance, the price could clear the $40K level. In the stated case, bitcoin price may aim a strong surge and the bulls are likely to aim for another all-time high in the near future. If bitcoin fails to clear the triangle resistance and $40K, there is a risk of a fresh decline. An initial support is near the $38,500 level. A downside break below the $38,500 and $38,000 support levels may possibly push the price towards the main $36,000 support zone in the near term.

The technical analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal.

Comments (2)

[…] at Bexplus believe that under the background that the price of BTC has not hit a new high recently, the increase in the space for supplementary gains in popular cryptocurrencies will […]

[…] After the slight adjustment of Bitcoin, the market continued the upward trend of yesterday. In the early morning (UTC), the price broke through $39,000, reaching a maximum of $39,673.97. The overall bullish sentiment is strong, and the follow-up market is expected to test the $40,000 mark. […]

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