Bitcoin Price Forecast – Bulls Target $40,000 and More

Bitcoin Price Forecast – Bulls Target $40,000 and More

It has also been a mixed morning for the broader crypto market. The Rest of the Pack Through the morning, Chainlink was up by 14.76% to lead the way.

Bitcoin broke through the day’s major resistance levels to test resistance at $40,000 before briefly easing back to sub-$38,500 levels. Steering clear of the first major support level at $34,386, Bitcoin rallied to an early morning current day high $39,777.0.

In spite of the pullback, however, Bitcoin avoided a fall back through the third major resistance level at $38,031. A mixed start to the day saw Bitcoin fall to an early morning low $35,233.0 before making a move.

Through the early hours, the crypto total market fell to an early morning low $1,407bn before rising to a high $1,546bn. At the time of writing, the total market cap stood at $1,519bn. Bitcoin’s dominance fell to an early low 46.93% before rising to a high 48.66%. At the time of writing, Bitcoin’s dominance stood at 47.63%. Through the morning, Polkadot bucked the trend, falling by 1.12%.

Binance Coin (+5.52%), Bitcoin Cash SV (+4.58%), and Crypto.com Coin (+6.87%) trailed the front runners, however. Cardano’s ADA (9.92%), Ethereum (+7.24%), Litecoin (+8.06%), and Ripple’s XRP (+9.06%) also found strong support.

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