Bitcoin Just Touched The $40,000 Mark for First Time in Two Weeks | TechHarry

Bitcoin breaks its resistance and crossed the $40,000 mark after two-weeks

Bitcoin (BTC) has long jumped an 8% high after long two weeks. Maybe this may be the positive signal for the crypto market that now the crypto market can start its bull run after long 2-3 months. But every time Bitcoin jumps high, it has to go down to its nearest support price. This time, Bitcoin should touch only the $39503 to $39,316 support mark if it needs to start another successful bull market.

Bitcoin (BTC) has risen 8.9% over the past 24 hours to around $40,219 clearing all its supports and resistances behind. But if it falls down below $39,316 for some correction in the market, it can fall down to the $36,262 price mark and below. The last time, we saw BTC touch this mark was on 20th January, but at that time it was plunged down. This time is different because it is growing up breaking all their resistance.

If we take a look at the BTC chart, we can see a very powerful resistance next for the Bitcoin on $43,492 to $44,427.

"Several attacks on the downside have not been successful anymore as the risk has been taken out," said Daniel Kukan, a senior trader at Crypto Finance AG.

“The fact that AMZN’s earnings went the way of AAPL, MSFT, and GOOGL -- and not the way of FB -- has given investors more confidence to reengage with the risk-on trade," said Matt Maley, chief market strategist at Miller Tabak + Co., said.

Stephane Ouellette, chief executive and co-founder of institutional crypto-platform FRNT Financial, said Bitcoin seems to be consolidating in a similar way to equities around the 200-day moving average. Over the last two days, Bitcoin correlated to Facebook declines, and on Friday to Amazon gains, according to Ouellette.

“In spite of today’s move from a technical perspective I don’t think we can start saying anything definitive until at least a definitive breakout beyond" $40,000 to $41,000, he said.

Effects of BTC Rise on Different Cryptocurrencies

Bitcoin (BTC) is up around 9% over the past 24 hours. It has signaled every other cryptocurrency to rise. This week, many traders had opened their shorts but BTC has shocked us in every way. This might be the manipulation by whales but we should enjoy this moment and hope BTC touches an all-time high and further again.

This BTC price hike has also affected other cryptocurrencies. Investors are now trading on other big market caps. cryptos. Let's see what cryptocurrencies have gained more in the past 24 hours.

Bitcoin: +9.8%

Ethereum: 12.7%

BNB: 7%

Cardano: 5.1%

Solana: 11.9%

XRP: 6.1%

Avalanche: 13.4%

Kusama: 12.2%

RUNE: 10.4%

Curve DAO Token: 10.3%

Arweave: 9.9%

VeChain: 9.4%

Polygon: 8.8%

Polkadot: 8.4%

ATOM: 8.4%

Aave: 8.4%

Sandbox: 8%

The Graph: 7.8%

Fantom: 7.8%

Gala: 7%

Loopring: 6.9%

Shiba Inu: 6.2%

Algorand: 5.8%

Theta Network: 5.5%

Helium: 5.6%

Dogecoin: 4.9%

Filecoin: 4.5%

So, that's it for this article. This was the update for the 9% hike of BTC and the price hike details of other altcoins.

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