Bitcoin buyers came to the table over the weekend, which supported an almost 6% increase in value which ultimately stalled near $36,000. It has since gone down by 3% over the last 24 hours. A pullback towards the support zone that is current was a result of an overbought signal on the chart.
Bitcoin is managing a number of higher lows from its shakeout on June 22 of $29,000. This means that traders defended increasing support levels, however they were within a tight range. Getting beyond $36,000 would push it even further toward $40,000 if momentum increases. However, this upside is being interpreted as limited, thanks to the downtrend in April.