Ta: Bitcoin sees key turned upside down, why bulls stay in control

The price of Bitcoin remained in positive territory, above the US $ 39,000 level against the US dollar. BTC will probably go above $ 40,500 and $ 41,000.

Bitcoin is trading well above support levels of $ 38,200 and $ 38,500.
The price is now well above the $ 38,000 trading mark and the 100-hour simple moving average.
The hourly chart of the BTC / USD pair has large contract triangles that show resistance around $ 40200 (kraken data channel).
The pair will likely gain bullish momentum if it erases $ 40,200 and $ 40,500.

Bitcoin Price Offers More Advantages
The price of Bitcoin has started a new growth in the support zone of $ 36,500. BTC continued to trade above the $ 37,000 level and gained momentum above the $ 38,000 level.

The price rose above the $ 40,000 level, above the 100-hour simple moving average. The maximum was set at around $ 40,930, and the price now combines earnings. It was set below the $ 40,000 support level.

The upward movement was 23.6% below the Fibonacci correction level, a break from the low of $ 36 397 to $ 40 930. It currently maintains a support level of $ 39,000. On the hourly chart of the BTC / USD pair, there is also a large contract triangle with resistance around $ 40 200.

Source: BTCUSD on TradingView.com
40 if a reverse break occurs above the $ 200 resistance zone, there is a chance to be the more positive side. The next big resistance is near the $40,800 and $41,000 levels. Just above $ 41,000 could lead to steady growth of up to $ 42,000.

Is dip supported in BTC?
If Bitcoin fails to rise above resistance levels of $40, 200 and $40, 500, it may begin another downward correction. The initial support at the bottom is close to the $ 39,400 level and the bottom trendline of the Triangle.

The first big boost is now close to the $ 38,600 zone. Near the 50% Fibonacci correction level, with a move up from $ 36,397 to $ 40,930. A clear drop in support of $ 38,600 may require a move towards $ 37,

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