According to a chart shared by Bloomberg, bulls have become more active now after the flagship digital currency, Bitcoin, demonstrated a quick recovery from the $29,000 zone above $30,000 last week.
Now, they have managed to propel the Bitcoin price above the $36,500 zone. Later on, Bitcoin hit $39,850 on Bitstamp, a high not seen for one and a half months.
Alex DovbnyaThis Bitcoin move up to this major high has confirmed a classic double-bottom pattern, according to the Bloomberg analytics team, which may lead BTC up to the $44,000 level.
The resistance may be waiting at the $41,000-$42,000 area, as per a statement made by the analysts.
Bitcoin was pushed nearly to the $40,000 level by the previously announced news, shared by an Amazon insider, that the e-commerce behemoth is preparing to start accepting payments in Bitcoin. Once this is successful, the company will likely add Ethereum, Cardano's ADA and Bitcoin Cash.
Alex Dovbnya
Vladislav Sopov
Dan Burgin