Bitcoin (BTC) held support around $34,000 over the weekend and is approaching resistance around $40,000-$42,000. The world’s largest cryptocurrency has been consolidating for nearly a month as buyers established a solid base around $30,000.
A breakout from the range would yield further upside towards $50,000. However, sellers remain in control given strong overhead resistance.
Bitcoin was trading around $39,300 at press time and is up about 9% over the past 24-hours.