BTC price hits $38K as Bitcoin analysts focus on weekly close

Bitcoin aims to pass $38,000 amid calls for a BTC price showdown with $40,000 resistance.

1/26/2022 4:45:00 PM

40k Bitcoin soon? Optimism is rising as BTC hit $38,000 twice. According to experts, if those levels hit again, we could potentially have a price breakout.

Bitcoin aims to pass $38,000 amid calls for a BTC price showdown with $40,000 resistance.

followed BTC/USD as it continued the rebound that began on Monday.At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction cues.For Cointelegraph contributor Michaël van de Poppe, the signs were encouraging, with the stage being set for a potential exit from the $30,000–$40,000 corridor.

“Bitcoin held $36K and tested $38K already. If that one tests again, we are likely to get a breakout and potentially test $40.7K,” hetoldTwitter followers.Almost as bullish on short timeframes was trader, analyst and podcast host Scott Melker, known as the “Wolf Of All Streets.”

Read more: Cointelegraph »

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Rich Dad Poor Dad's Robert Kiyosaki: Bitcoin Is Crashing, Will Buy When BTC Tests $20K – Markets and Prices Bitcoin NewsThe author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he will buy more bitcoin if and when the price of the cryptocurrency tests $20K. Be grateful for whatever comes because each has been sent as a guide from beyond. xrdoge Please think to the get to the xrdoge token to have a grow more price While every other coin taken me out of my money in this red market xrdoge is the only that is still holding up...

TradingView followed BTC/USD as it continued the rebound that began on Monday. At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction cues. For Cointelegraph contributor Michaël van de Poppe, the signs were encouraging, with the stage being set for a potential exit from the $30,000–$40,000 corridor. “Bitcoin held $36K and tested $38K already. If that one tests again, we are likely to get a breakout and potentially test $40.7K,” he told Twitter followers. Almost as bullish on short timeframes was trader, analyst and podcast host Scott Melker, known as the “Wolf Of All Streets.” “Target is $39,600, which as you know is ‘coincidentally’ the key resistance on higher time frames,” he said as part of his latest Twitter update, identifying a cup and handle pattern on the hourly chart. Even if the overall trend demands that Bitcoin continue to fall, he added, $39,600 remained important as a zone to challenge. Here is $39,600 on the weekly. This is where bullish market structure broke down with a lower low. This is the initial target of my current longs. It"should" theoretically be retested as resistance, even if we are going down further. Never guaranteed.