Bitcoin cryptocurrency recently reversed up from the support zone located between the key support level 38930.00 (which has been reversing the price from the start of March as can be seen below), the lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse 1 from the end of January. The upward reversal from this support zone stopped the previous correction 2.
Given the widespread improvement in the sentiment that can be seen across the cryptocurrency market today – BTCUSD prices can be expected to rise further toward the next resistance level 42830.00 (top of the previous corrective wave (b)).
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