• bitcoinBitcoin$19,225.50-0.45%
  • ethereumEthereum$1,296.88-1.49%
  • elrond-erd-2Elrond$47.910.76%

Traders Consider $41K as Bitcoin’s Key Support to Hold for the Short-Term

With all of the events surrounding crypto these days, it seems that Bitcoin has found a new support level, at least for the short-term: $41,000 – according to some analysts.

Michaël van de Poppe, a market analyst, considers this price action to be “boring” and believes that BTC could trade sideways in a consolidation pattern for several weeks and then increase again. He thinks that if the price goes above $43,800, the current correction would be over.

Sheldon the Sniper, a Twitter user, has said that Bitcoin is enjoying support at $41,160 with additional supports at $39,000 – $40,000 and $37,00-$38,000. He commented: “Stock markets showing some weakness, short term support on $BTC, if we lose it, next possible zone is $38K – 40K. Right now I have taken a lot of buys and just being patient with the market.”

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