Bitcoin Rallying As Predicted. Watch This $40k Level!

11:14 pm, Wed, 4 August 21

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
End of day treading result for the top 36 cryptocurrencies by market capitalization

The crypto market ended the trading day very bullish after Bitcoin led the massive rally that saw its price surging more than 4% in just hours! This rally also caused a small bull run in the Altcoin market pushing the all crypto market higher today.

This Bitcoin rally played out exactly as we predicted in our previous End of Day Analysis Must Read: Bitcoin $38k Key Support Still Holding! What Next?. However, the Bitcoin price is about to run into a key level in the 15 minutes timeframe. We will be talking about the importance of this resistance level and how it might affect prices in the coming days.

Bitcoin Rallying As Predicted. Watch This $40k Level in the 15 minutes timeframe!

To trade Bitcoin with leverage, sign-up to Bybit right now! You can also get up to $1,610 in deposit bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $600 in Bonus

100x Leverage

The $40,907 Key Resistance

Bitcoin Rallying As Predicted. Watch This $40k Level in the 15 minutes timeframe! Will Bitcoin sell-off?
Bitcoin Rallying As Predicted. Watch This $40k Level in the 15 minutes timeframe! Will Bitcoin sell-off?

This level has served as both strong support and resistance for the Bitcoin price on two previous occasions, making it a very key level to keep an eye on in the coming days.

In the sections below, we will be talking about our outlook for both the Bitcoin bullish and bearish scenarios

Bullish Price Prediction

For the bullish price prediction, we want to see the Bitcoin price break and close above this $40k key resistance in the 15 minutes timeframe.

A break like this would confirm our bullish bias, increasing the potential for us to see a price surge to the $42,604 previous highs in the coming days.

Bitcoin Rallying As Predicted. Watch This $40k Level!
Bitcoin Rallying As Predicted. Watch This $40k Level in the 15 minutes timeframe! Bitcoin bullish prediction

Bearish Price Prediction

However, if this $40k resistance level holds, we might see the Bitcoin price sell-off like it has done over and over again every time it gets to that resistance region on the 15 minutes time frame

Bitcoin Rallying As Predicted. Watch This $40k Level in the 15 minutes timeframe! Bitcoin bullish prediction
Bitcoin Rallying As Predicted. Watch This $40k Level in the 15 minutes timeframe! Bitcoin bearish prediction

Final Verdict!

We are still very bullish on Bitcoin and believe the price still has the potential to keep on heading higher in the coming days. However, we are now keeping a close watch on the $40,907 resistance region on the 15 minutes timeframe for any weakness in the price.

If Bitcoin fails to break this resistance, we might see price sell-off again soon!

Claim up to $600 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 50% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $600 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $112 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Get 50% Deposit Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: