Bitcoin returns to $40,000 this year as it rises on the holiday season

The Chinese Duanwu mini-holiday market was first depressed and then rose, with bitcoin once falling back to a low of $34,600 over the weekend.

Dragon Boat Festival small holiday market first depressed after rising, the weekend time bitcoin once back down to $34,600 low, but then the price gradually rebounded, yesterday Dragon Boat Festival market performance exuberance, a collective rise in the market, which bitcoin became the “locomotive”, leading the market rebounded sharply, bitcoin rose 14% that day, touching a new high since May The market has been rising since the 21st, after nearly a month of low consolidation, the market has finally taken off, which is what Zhuge has been emphasizing in June, the bottom of the low to do more, the opportunity is greater than the risk.

Bitcoin returns to ,000 this year as it rises on the holiday season

Many people gave credit to Musk for yesterday’s rally, because yesterday Musk milked Bitcoin again, implying that Tesla online store will resume accepting Bitcoin payments for Tesla purchases. In fact, we don’t have to think too much about it, now Musk is a two-headed snake, trying to use his personal influence to mislead the market, this kind of verbal intervention has seriously affected the cryptocurrency market this year and has caused public outrage, so fewer and fewer people will believe in him and his influence on the market will diminish, and the market rally yesterday will be the result sooner or later even without Musk’s shouting.


After the price returned to $40,000, the current selling pressure has obviously weakened, but not completely from empty to more, for the time being can only watch the rebound phase, as the price rebound higher, the greater the pressure, concern this week’s pressure area between 45000-50000, but as long as the price does not appear to fall sharply, this week’s time is expected to price performance is stable.

As the price rose all day yesterday, the short-term hourly chart entered the overbought stage, the price is expected to hover around the $40,000 mark in the early morning, concerned about whether the price can break through $41,000 in the late afternoon, if it can break through yesterday’s high, the price will further rebound to near $42,000. Pressure level: 42,000, support level: 38,000.


Although yesterday’s price rebounded sharply, but the current price level is still in the recent regional range, so for the time being, still watching the shock market, short-term is expected to test the resistance near $ 2750. Pressure level: 2800, support level: 2400.


Yesterday’s big positive line to recover the past three days of losses, short-term prices still go oscillating market, has not yet come out of the obvious rebound momentum, this week still continue to pay attention to the trend changes. Pressure level: 27.00, support level: 21.00.


The current long and short watershed in the vicinity of $ 400, this week needs to effectively stabilize above this mark, in order to open the rebound space above, in the absence of an effective breakthrough. Pressure level: 400, support level: 335.


Continued sideways under the time of this week, the price is expected to usher in a breakthrough market, is expected to return to above $ 200, it is recommended to do more on the low. Pressure level: 200, support level: 155.


At present, there are signs of excess volume, and it is expected that this week will usher in the process of accelerating upward, short-term look at the pressure level near $30, if you can break through this barrier will further rally. Pressure level: 27.00, support level: 21.00.

Posted by:CoinYuppie,Reprinted with attribution to:
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