Bitcoin price now within 10% of $40,000 after ranging flips to new highs

Bitcoin price now within 10% of $40,000 after ranging flips to new highs


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

Data from Cointelegraph Markets, Coin360 and TradingView showed Bitcoin getting yet another boost overnight on Wednesday as protestors stormed the Capitol in Washington D.C.

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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

“It’s amazing, an amazing year,” Cointelegraph Markets analyst Michaël van de Poppe summarized in his latest YouTube update.

He added that while

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