BTC traded below the $40k psychological level for the past week, with low volumes. Weekends were turbulent as the asset suffered a Saturday fall and then recovered on Sunday. BTC has risen by 1.68% in the last 24 hours. It holds 42.25% of the market and is worth $736bn.
BTC traded at $38,678 as of the writing date.
BITCOIN fell below $38,750 (61.8% Fibonacci retracement level) and dropped down to $37,386. In the past, the asset has seen multiple support levels around $37,300 and it did the same this time. Technically, BTC is showing a falling wedge pattern on a daily chart. The RSI however has shown a positive divergence. The price can surge to $41k-$41.5k levels if it closes above the resistance line. A break below the support can lead to further decline and prices could fall to $37k-$35k levels. Key Levels:
Support 2Support 1AssetResistance 1Resistance 2$35,500$38,500BTC$40,000$45,500
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