Bitcoin is poised to conclude the week with a roughly 6% gain, signalling sustained bullish interest. Amidst a prevailing consensus predicting Bitcoin’s upward trajectory in 2024, analysts are actively forecasting the potential extent of this rally. As Bitcoin remains in the spotlight, numerous prominent altcoins are also experiencing notable surges. The widespread surge in crypto assets raises expectations for a potential altcoin season on the horizon.
At the time of writing, BTC was trading at $37,086.
Bitcoin was trading in a range from $25,000 to $28,500 and was taking good support at the key level of $25,000 (Horizontal Trendline & 50% Fibonacci Retracement Level). The asset finally gave a breakout above the range and started moving upwards. The prices broke the long-held resistance of $32,000 and rallied up to $37,972. BTC has a strong resistance at the psychological level of $40,000 and may witness some profit booking from these levels whereas $36,000 and $32,000 will act as a strong support for the asset.
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