Gains of 12% helped Bitcoin climb back above $40,000- the first of many levels that needed to be recaptured for a speedy recovery from its bear market.
Not only did the digital asset break north from its down-channel but it also managed to find higher support levels at $35,000 and $39,000.
Even though a few resistance levels rested between $41 and 43K, a bullish outcome would see the king coin head back towards 9th Feb swing high of $48,000.
On Balance Volume has been on the up since 8 June but some selling volume was observed over the past couple of days.
If the price manages to stabilize at $39,000, a bullish outcome can still be expected but failing to do so could drop BTC back towards $36,000.
Instead, the king coin could retrace towards $39,000, reset, and attempt to breach its upper ceiling once again in the near future.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.