Market Wrap: Bitcoin Above $42K; Analysts See Rebound Ahead – CoinDesk

Technical indicators show support, or the price level that an asset does not fall below for period of time, at $40,000, although resistance remains strong around $50,000, where buyers took some profit 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 email to CoinDesk.

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