BULLS DEFEND BITCOIN SUPPORT AT $42,000

In the event of rejection , the buyers will once again have to defend the $42,000 . This is to avoid a fall towards $40,500 . On the other hand, if the resistance at $44,000 gives way, the price could find the resistance at $46,000 . This would allow you to get out of the range between $40,500 and $44,000 . The RSI must find ascending lows and highs above the bullish trendline . This would allow buyers to maintain momentum .

According to the MVRV Z-Score indicator, the king of cryptocurrencies is in a rising phase which could end when the indicator overheats. This indicates that, despite the increase experienced in 2023, BTC is not overvalued as during a bull run. In 4H, the price bounced off the support at $42,000. A return to $44,000 is now possible. Whatever happens, the king of cryptocurrencies remains stuck in his range for the moment. Could altcoins benefit from this?