Bitcoin Holds Support but Faces Resistance at $36K

Last Updated: July 7, 2021

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.
Jason

Jason

Hi! I'm the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!
Bitcoin Holds Support but Faces Resistance at $36K
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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.

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Written by Jason

Hi! I’m the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!

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