3 key Bitcoin price indicators suggest that the $40,000 level will hold as support throughout 2022.
A painful retracement in the Bitcoin (BTC) market earlier this week sent the price below $40,000 for the first time since September 2021. Many analysts predicted the decline to continue toward the $30,000 to $35,000 range, but the price reclaimed $40,000 as support again and on Wednesday BTC made an abrupt move above $44,000. This rekindled hopes that the $40,000 level is perhaps where Bitcoin may bottom out before continuing its move higher in 2022.Jurrien Timmer, the director of global macro at Fidelity Investments, called $40,000 a „pivotal support,” noting that Bitcoin has become „technically oversold” near the level, which may amount to a rebound in the short-term.BTC/USD daily price chart. Source: TradingViewAt the core of Timmer’s bullish outlook were three catalysts: a Stochastic RSI, the so-called S-curve model and a
We współpracy z: https://cointelegraph.com/news/fidelity-exec-says-bitcoin-is-technically-oversold-making-40k-a-pivotal-support
