Over $40K, Bitcoin Holds Support Initial Resistance is $46K — WITHCRYPTO

Pullbacks are being bought by buyers, keeping support levels intact.

Pullbacks in Bitcoin (BTC) have been restricted during the Asian trading day, suggesting that buyers may continue active above the $40,000 support level. There is still the possibility for more gains, but resistance near $46,700 might stymie the price rebound.
At press time, the cryptocurrency was trading about $42,300 and had been relatively stable over the previous 24 hours.
Bitcoin’s trading volume remains modest in comparison to previous highs, but a definitive break over $46,000 might spur extra purchasing activity. For the time being, Bitcoin remains in a month-long trading range while striving to reverse a four-month-long slump.

In other news, the recent outperformance of alternative cryptocurrencies (altcoins) such as ether (ETH) relative to bitcoin implies that traders are positive. As a result, greater trading ranges are likely in the near future.

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Written by becem

Originally published at https://withcrypto.net on March 24, 2022.