Bitcoin Gathers Upside Momentum; Faces Resistance Near $40K
Bitcoin (BTC) buyers remained active during Asia hours and defended initial support around $33,800. The next level of resistance is seen between $38,000-$40,000, which is near the top of a month-long range.
The $30,000 support level was re-tested over the weekend, marking a higher low from the June 22 shakeout around $29,000. Price remains elevated and could break above the 100-period moving average on the four-hour chart.
Bitcoin was trading around $35,000 at press time and is up 4% over the past 24-hours.