Bitcoin Price Prediction – Bulls Target $40,000 and Above

It was a bullish start to the week for Bitcoin, and the wider market on Sunday. This morning was particularly bullish for crypto majors.

Bitcoin Price Prediction – Bulls Target $40,000 and Above

At the time of writing, Bitcoin, BTC to USD, was up by 8.97%to $38,591.0.

Bitcoin fell to a low of $35,233.0 in the morning before it made a move.

Bitcoin rallied to an early morning high of $39,777.0, avoiding the $34,386 first major support level.

Bitcoin broke through the day’s major resistance levels to test resistance of $40,000, before briefly falling back to levels below $38,500.

Despite the pullback, Bitcoin did not fall below the $38,031 major resistance level.

The Rest of the Pack

The wider crypto market also had a mixed day.

Through the morning, Chainlink was up by 14.76% to lead the way.

Strong support was also shown for Cardano's ADA (9.92%) and Ethereum (+7.24%), Litecoin (8.06%), Ripple's XRP (plus 9.06%)).

Binance Coin (+5.52%), Bitcoin cash SV (+4.58%), Crypto.com Coin (+6.87%) were the closest to the front runners.

The morning saw Polkadot reverse the trend and fell by 1.12%

The crypto total market plunged to $1,407bn in the early hours of the morning before rising to $1,546bn at the end. The total market cap was $1,519bn at the time of writing.

Bitcoin's dominance dropped to an early low of 46.93%, before climbing to a high of 48.66%. Bitcoin's dominance was at 47.63% as of the writing.

The Afternoon Agenda

To support another run at the 38.2% FIB at $41,592, Bitcoin must avoid a fall below the third major resistance level of $38,031

To see Bitcoin rise from its early morning high of $39,777.0, support from the wider market is needed.

The resistance at $40,000 will likely keep the upside from any extended crypto rally.

Bitcoin could resist a further extended rally at 38.2% FIB (41,592). Bitcoin's last $42,000 level was on 22 and May.

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