Bitcoin Gathers Upside Momentum, Faces Resistance Near $40K

[beerlover]

Honestly let bitcoin price do whatever it wants because being too overly excited about the price will not help you in any way. We are talking about something that is going to end up not being moved just because we want to (well it could if we had billions of dollars to spend on it) so there is no need to worry about it. Go on and do whatever you want, you think it will go up? Then buy more and wait for it to go up, surely it does look like it could go up from here if we keep repeating the same thing we did for the past two months.

If you think it will go on and crash? Then just don't buy it and if you have any then sell your coins as well. There is nothing wrong with making a mistake in trading, you learn by making mistakes and the more mistakes you make the more you learn and you become a better trader eventually thanks to all the mistakes you did previously.

[traderethereum]

Bitcoin hasn't still managed to get past $40k resistance. It's very important for it to pass that level because it will help the price go back to a level between 50k and 60k dollars again. Now, we are discussing the probability of another dump also. I hope things don't go that way soon.

Yes, $40k resistance will be the level price that bitcoin should break while the price does not yet touch $37k-$38k and still lower than that price.
But I do not feel too upset with the current situation because it means we can still have more chances to accumulate more bitcoin by buying at a low price.
And even if the price is back $32k, that will be the best time to buy bitcoin.
Bitcoin price will increase higher someday, and we just need to enjoy this time to have more bitcoin by buying bitcoin.

[ILuckyGuyI]

As far as I know, it is explained like this in short: If the buy amount is less than the sell amount at that level, then there is a resistance there. And it won't be easy for Bitcoin price to break it unless the conditions change.

[LUCKMCFLY]

Many of the analyzes are changing for the better, since it is expected that it can reach $ 41k if everything goes well, at this moment the volume has dropped a bit in its negotiations, some are affirming this for a possible accumulation that will explode in a short time in a bullish rally to almost $ 41k- $ 42k.

In this case, if bulls break the mentioned level, there are high chances to return to the vital level at $40,000 soon.

Bitcoin is trading at $35,322 at press time.

Source: https://u.today/btc-eth-ada-bnb-and-doge-price-analysis-for-july-4

I think that hope and good peace of mind will soon come to BTC traders and investors, for now what is most sought after is that it can have stability at at least the $ 40k levels, which totally surpasses the $30k level.

[ene1980]

Many of the analyzes are changing for the better, since it is expected that it can reach $ 41k if everything goes well, at this moment the volume has dropped a bit in its negotiations, some are affirming this for a possible accumulation that will explode in a short time in a bullish rally to almost $ 41k- $ 42k.

The market is finding it difficult to break the resistance for a long time and i have no clue when we will be able to breach that, we need huge institutional investors to pump the market to breach that resistance if not we will continue to trade in that support and resistance range for a while until we see a resurgence eventually and i am patient enough to wait for a few months .

[adaseb]

The market is failing to either break $30K or $40K because there is no volume these days. Plot the daily chart and compare. Each week less and less volume. There are people who are trying to trade these ranges and are getting liquidated and leaving the crypto markets all together.

Look at the amount of activity with ETH transactions. I can send a transaction with a 2-3 Gwei and it would confirm right away. Remember how high it was before. You needed to be really lucky to get a transaction to confirm for 100Gwei when most of the time it was >200 Gwei or so. It’s the summer slowdown. We might get some traction in the fall.

[Poker Player]

The market is failing to either break $30K or $40K because there is no volume these days. Plot the daily chart and compare. Each week less and less volume. There are people who are trying to trade these ranges and are getting liquidated and leaving the crypto markets all together.

Look at the amount of activity with ETH transactions. I can send a transaction with a 2-3 Gwei and it would confirm right away. Remember how high it was before. You needed to be really lucky to get a transaction to confirm for 100Gwei when most of the time it was >200 Gwei or so. It’s the summer slowdown. We might get some traction in the fall.

I think the same. I suppose that now that we are facing the vacations it will continue like this. It doesn't look like it will significantly increase in volume or price in the near future.