Bitcoin (BTC) climbed to fresh all-time highs on Jan. 7, coming within striking distance of $40,000.
Cryptocurrency market overview. Source: Coin360 BTC price reaches $37,800
After showing signs of continuing strength during trading the day before, BTC/USD abruptly headed north, reaching a new peak of $37,800.
By press time on Thursday, a subsequent retracement had sent the pair focus on the $37,000 mark, with Bitcoin still within 10% of hitting $40,000.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
According to the latest updates for order books, significant resistance lay in wait at $38,000, with more selling pressure beginning at $39,500. Support was less decisive above $31,000.
BTC/USDT order heatmap (Binance). Source: Material Indicators
He added that while