Bitcoin (BTC) consumers are taking income after a rally towards $42,000 over the weekend. The cryptocurrency seems overbought and will discover assist round $34,000, which is the midpoint of a two-month vary.

The intermediate-term uptrend is enhancing after a close to 30% rally from the July 20 low round $29,000. Patrons might stay lively at decrease assist ranges given the lack of draw back momentum over the previous month.

Bitcoin was buying and selling round $39,500 at press time and is down 4% over the previous 24 hours.