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Bitcoin Chart Pattern May Lead Bulls to Eye $44,000 Level
Bitcoin’s quick rebound above the psychologically important $30,000 mark last week has emboldened bulls.
26 Jul 2021, 06:02 PM IST 
A person holds a Bitcoin token at the Bitcoin automated teller machine in El Salvador. (Photographer: Cristina Baussan/Bloomberg)
(Bloomberg) -- Bitcoin’s quick rebound above the psychologically important $30,000 mark last week has emboldened bulls, who pushed prices through key resistance of $36,500 on Monday. This move has confirmed a classic double-bottom pattern, which points to a potential rally to $44,000 where the pattern’s objective and Bitcoin’s 200-day moving average are converging. Recent price action indicates that near-term resistance may lie in the $41,000 to $42,000 area.
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