Bitcoin Above $42K; Analysts See Rebound Ahead — CoinDesk

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Technical indicators present help, or the worth stage that an asset doesn’t fall under for time frame, at $40,000, though resistance stays robust round $50,000, the place patrons took some revenue earlier this month. “Ultimately BTC needs a break (daily price close) above $47,000 to mark a resumption of the broader uptrend,” Michael Boutros, analyst at DailyFX, wrote in an e mail to CoinDesk.