Bitcoin (BTC) broke above the $40,000 price level on intraday charts, indicating short-term bullish activity. The cryptocurrency pared earlier losses, although immediate resistance around current levels could stall the upswing.
BTC was trading around $41,200 at press time and is up 5% over the past 24 hours.
For now, BTC will need to remain above the 100-day moving average on the four-hour chart, currently near $40,000, to confirm upside targets. Lower support is seen at $37,000, which could stabilize pullbacks into the Asia trading day.
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