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Bitcoin Faces A Rejection Near $40,000, But Seems To Be On The Mend
Summary: Bitcoin faced a rejection just below the $40,000 price level earlier today, but has since seemed to partially recover. At 1:09PM EST Bitcoin reached $39,828 before dipping dramatically back down to $37,806. At the time of writing Bitcoin is trading hands at $38,939 and is up 9.41%. Nearing $40,000 has set Bitcoin Twitter ablaze as ...
Bitcoin faced a rejection just below the $40,000 price level earlier today, but has since seemed to partially recover.
At 1:09PM EST Bitcoin reached $39,828 before dipping dramatically back down to $37,806. At the time of writing Bitcoin is trading hands at $38,939 and is up 9.41%.
Nearing $40,000 has set Bitcoin Twitter ablaze as traders eagerly watch the rise and fall of the leading cryptocurrency. Popular crypto commentator yTedd urged followers in a tweet not to be discouraged by the rejection, reminding them that Bitcoin behaved similarly before breaching both $20,000 and $30,000.
"Price will not break through on the first attempt, it will have to consolidate below before (hopefully) piercing through," he wrote. "In the meantime, take advantage of this consolidation to spot what altcoins remained stable."
By Emily Mason
Tags: Bitcoin,BTC
Link: Bitcoin Faces A Rejection Near $40,000, But Seems To Be On The Mend [Copy]
