Bitcoin TA: Tech Breakthrough Suggests BTC Could Exceed $ 40,000

Bitcoin's price is gaining above the $ 38,000 base level against the US dollar. BTC is signaling more gains above the short-term $ 40,000 resistance zone. Bitcoin is showing positive signs above the $ 37,000 and $ 38,000 resistance levels. The price is trading well above the $ 37,000 area and the 100 hourly easy moving average. There was a break above a major contraction triangle with resistance around $ 38,000 on the hourly chart of the BTC / USD pair (Kraken data stream). The pair is expected to accelerate above the $ 39,500 and $ 40,000 resistance levels. Bitcoin price aims to break up. Bitcoin corrected downward after testing the $ 40,000 resistance zone. BTC dropped below $ 38,000, but remained supported near the $ 37,000 area and the 100 hourly simple moving average. It dropped to $ 36,500 and the price started to rise again. It broke the $ 37,000 and $ 38,000 resistance levels. There was a break above the 50% Fib retracement level from the last volatile decline from the $ 40,155 high to $ 36,508 low. There was also a break above a major contraction triangle with resistance near $ 38,000 on the hourly chart of the BTC / USD pair. The pair is currently trading well above the $ 37,000 area and the 100 hourly simple moving average. Source: BTCUSD Instant resistance on TradingView.com is near the 76.4% Fib retracement level of the last decline from the $ 40,155 high to $ 36,508 low. The main resistance is still near the $ 40,000 area. A clear bullish break above the $ 40,000 resistance zone could trigger a strong bullish move. The next major resistance is near the $ 42,000 level. More gains could open the door for a bigger recovery to the $ 45,000 level. Are drops supported in BTC? If Bitcoin does not lift the $ 40,000 resistance, there is a risk of a downward correction. Initial bearish support is near the $ 38,200 level. The first major support is still near the $ 37,000 area and the 100 hourly SMA. If there is a disadvantage

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