Bitcoin price again dropped off $39,000 a couple of times when it attempted a ‘V-shaped’ recovery from the recent losses. The bulls here are not attempting to push the price beyond $40,000 nor allowing it to drop below $38,500 for a long time. And hence it can be speculated that the BTC price may eventually rise above all the odds to a range above $40,000 this weekend.
In contrast, the BTC price is showcasing the possibility of undergoing a massive upswing and also carries a significant chance of draining to $32,000. One of the popular analysts figured out the possible Bitcoin price movements in the upcoming times.
Here, the analyst believes the BTC price could undergo a strong bounce from $37,800 which is the descending low of a higher low. Therfore, the price may reach the bottom and here it may either rebound firmly to range towards $69,000 which is also neckline support. Or else it may slide down heavily rejecting the lower support to test the lower support around $33,000.
In the current times when the stock market is witnessing strong turbulence, the crypto space appears to remain unaffected. The Bitcoin price and the popular altcoins, both are undergoing their respective trend. And hence the crypto space decoupling from the external factors may maintain its upswing until the end of the week and eventually close the monthly trade.