{"id":10558,"date":"2022-02-07T13:51:49","date_gmt":"2022-02-07T13:51:49","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/07\/bitcoin-price-rejected-after-attacking-42k\/"},"modified":"2022-02-07T13:51:49","modified_gmt":"2022-02-07T13:51:49","slug":"bitcoin-price-rejected-after-attacking-42k","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/07\/bitcoin-price-rejected-after-attacking-42k\/","title":{"rendered":"Bitcoin Price Rejected After Attacking $42K"},"content":{"rendered":"

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The price<\/a> of Bitcoin went through a multi-week high for the weekly close on the 6th of February as a calm weekend helped for a fragile sentiment. According to data received from TradingView and Cointelegraph Markets Pro, it has been understood that after going through a mercifully non-volatile weekend for the exchange, the cryptocurrency continued to test the resistance zone of $42,000 while retaining the price of $40,000 as support.<\/span><\/p>\n

The unexpected gap on Friday did initially bring out a few misgivings over a fakeout in the price, but currently, no significant retracement has been seen.<\/span><\/p>\n

Bitcoin Lurking Around The Zone Of Resistance<\/b><\/span><\/h2>\n

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TechDev, a pretty well-known analyst and trader announced that he didn\u2019t believe that the Bitcoin impulse was finally done. Other comments zeroed in what could be a more sustainable transformation in price, with William Clemente eyeing the resistance zone of $41,000 as a support-resistance flip that would secure an attack on the levels much close to $50,000. He latest mentioned in a fresh tweet that the cryptocurrency was going through quite a straightforward price action.\u00a0<\/span><\/p>\n

Pentoshi, another trader, also mentioned that the time was absolutely right to take up positions in altcoins. These cryptocurrencies have gone through quite a lot over the last few months and have now been primed for a massive turnaround should the strength of Bitcoin persist.\u00a0<\/span><\/p>\n

While remaining flat throughout the day, most of the top cryptocurrencies<\/a> by market cap- including Bitcoin- have brought forth significant gains through the week- which has Ethereum amongst them as it is us by around 16% and above for the very first time over $3,000 since the 20th of January.\u00a0<\/span><\/p>\n<\/div>\n