TA: Bitcoin has restarted the rally, why can BTC go above 40k?

The price of Bitcoin found support close to $ 36,400 and started a new growth against the US dollar. BTC is showing positive signs and could top $ 40,000.

Bitcoin continued to offer significantly higher support levels of $ 36,400 and $ 36,500.
The price is now well above the $ 37,000 and 100-hour simple moving average.
On the hourly chart of the BTC / USD pair, there is a critical upward trend line with support of $ 36,800 (data flow from the Kraken).
A couple will probably get a bullish acceleration above the zone resistance 40 000 dollars in the short term.

Bitcoin Price Gains Momentum
The price of Bitcoin was set below the resistance area of $ 40,000. BTC fell below the $ 38,000 support level, but remained above the 100-hour simple moving average.

The Bulls ran near support levels of $ 36,400 and $ 36,500. The low was set around $ 36,403 and the price is now rising. It topped the $ 37,000 and $ 38,000 levels. Tuesday’s 50% Fibonacci correction marked a marked break with a downward motion from a Tuesday high of $ 40,520 to a Sunday low of $ 36,400.

It is currently trading at $ 37,000 and above the 100-hour simple moving average. Tuesday Bitcoin looks well positioned to swing $ 76.4 per cent above the Fibonacci correction level of $ 40,520 to a Tuesday level of $ 36,400.

Source: BTCUSD on TradingView.com
On the hourly chart of the BTC / USD pair, there is a critical upward trend line with support around $ 36,800. On the plus side, initial resistance is near the $ 40,000 level. The first big resistance is near the $ 40,500 level. A successful breakout and a close above the $ 40,500 level can provide steady growth towards the $ 42,000 level in the short term.

Is diving limited in BTC?
If Bitcoin does not rise above resistance levels of $40,000 and $40,500, it could initiate another downward correction. Initial support at the bottom is close to $ 39,200.

The first big boost is now close to the $ 38800 zone. A clear break at the disadvantage with support of $ 38,800.

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