Bitcoin (BTC) traded higher on Friday, with analysts excited to see which critical levels would fall next.
Bitcoin escapes further losses … for now
Data from Cointelegraph Markets Pro and TradingView showed that the BTC / USD pair held the $ 35,000 support overnight on Thursday, while staying away from $ 40,000 so far.
A bullish surge had brought the pair to $ 39,000 before the consolidation phase began., but overall, Bitcoin still had to make a decisive up or down movement over extended periods of time.
For the popular retailer Rekt Capital, it was necessary to exceed $ 38,000 to secure it.
“The ~ $ 38,000 range for BTC is the one to watch out for right now”,TO pointed outÂ on Wednesday, indicating its importance in the current consolidation cycle.
Altcoins are losing dominance
Since then, volatility has subsided, but general calls for a significant market downturn may ultimately go unnoticed..
As Cointelegraph reported, his colleague Crypto Ed was among those who predicted a return of nearly $ 30,000 as the next step on Bitcoin. On Friday, however that seemed increasingly unlikely.
“I’ve printed a few HLs and I’m starting to think we won’t finish this section all the way down.”, him He said to his Twitter followers, with a chart also highlighting a breakpoint near $ 38,000.
“Confirmation when we collapse this yellow horizontal and test again.”
A look at buy and sell positions on the world’s leading exchange, Binance® Approved the resistance at $ 38,500 and $ 40,000, respectivelyBy comparison, there was barely any noteworthy support well above $ 30,000.
For altcoins, the outlook was bleak. Traders saw losses of around 4% on major tokens on Friday, with only Amp (AMP) posting notable daily gains of 17%.
Bitcoin’s market capitalization improved as it increased, reaching 44% from less than 42% at the beginning of the week.