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Bitcoin Rallies From Oversold Levels; Resistance Nearby

Bitcoin (BTC) consumers had been lively over the weekend because the cryptocurrency broke above the 50-day shifting common close to $34,000. The intermediate-term downtrend is reversing, though resistance close to $40,000 might set off some revenue taking.

Upside momentum is enhancing after a number of months of consolidation and a number of oversold readings on the charts. Bitcoin was buying and selling round $38,000 at press time and is up 10% over the previous 24 hours. Early Monday, the worth climbed to about $39,500.

Source: CoinDesk

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