Bitcoin offers 'good signs' as analysts retain $40K BTC price target

Need some bullish BTC price targets? How about as high as $42,000?

The pair held strength on hourly timeframes after a weekly close just below the $27,000 mark.

With United States equities in a tight range on the day, crypto analysts looked for cues over where markets might go next.“Bitcoin breaks upwards and tests $27,600. Good signs,” he“Weekly timeframe; Holding 200 MA and EMA. I think we're continuing towards $38,000-42,000 from here.” Van de Poppe referenced the 200-week moving average and exponential moving average, these seeing a retest late last week after functioning as support for two months.“I’m a fan of this breakdown / reclaim,” popular trader Kaleo“See this a pretty solid r/r long setup for a potential move back to range highs. And yes, $40K is still a magnet.”Examining the state of the BTC/USD Binance order book, meanwhile, monitoring resource Material Indicators concluded that volatility was thus far absent.

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