Bitcoin testing major resistance at $ 40k

The largest cryptocurrency benefited from upbeat moods which prevail on the equity markets and the slowdown in the dynamic growth of the US dollar. Bitcoin hit the $ 40,000 mark, which is a key resistance level at the moment. From a technical point of view, the long-term upward trend line managed to halt declines around the $ 37,500 region. A decisive break above the aforementioned resistance could encourage hesitant buyers and push the price towards $43000 level. Nevertheless, it is worth remembering that the end of the week is approaching, and next week will bring a lot of volatility, due to Wednesday's FOMC decision.

Source: xStation 5

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