Bitcoin Price Prediction: BTC Bulls Advance Strongly to $40,000

Bitcoin price pushed the week's primary support at $31,000, allowing more buyers to join from the sides to support the rally targeting $40,000. The move caused Bitcoin to gain 13% in 24 hours while collectively supporting the entire cryptocurrency market uphill. Polkadot is one of the most advanced crypto assets with 15% double-digit earnings. Kusama was up 25.5% to trade at $516, while Monero was up 14% to $277 over the same period. Can Bitcoin bulls sustain the uptrend to $40,000? The Moving Average Convergence Divergence (MACD) indicator recently turned bullish, confirming its recovery from $31,000 to $37,000. A buy call was answered when the MACD line crossed above the signal line. Note that a breakout in the positive zone (above the zero line) can encourage more traders to enter the market and make the bullish story more believable. BTC/USD 4-Hour Chart The BTC/USD Price Chart SuperTrend indicator from Tradingview is also bullish with a buy signal, signaling an impressive reversal after a noticeably deep start to the week. This sell call occurred when the indicator went below the price and changed from red to green. It is worth noting that SuperTrend follows the trend of an asset keeping in mind the volatility in the market. A buy signal implies that the overall direction will be up; therefore, investors should consider taking a long position. On the downside, the Relative Strength Index (RSI) shows that the bullish momentum of the support is fading. This is following a possible correction before the RSI reaches the overbought zone. On the other hand, a pullback to the midline will show the bears getting stronger. Support at the 100 SMA and 50 SMA must be defended to prevent another at $33,000 and $31,000, respectively. Bitcoin Intraday Spotlight: $37.198 Trend: Rising Volatility: Rising Resistance: $40,000 Support: $36,000 and $33,000 The Post Bitcoin Price Prediction

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