BTC Bitcoin prices reversed up from support zone

BTC/USD Bitcoin prices recently reversed up sharply with the daily candlestick pattern Hammer from the support area located between the pivotal support level 37400.00 (which has been steadily reversing the price from the middle of February as can be seen from the Bitcoin chart below) and the lower Bollinger Band. The upward reversal from this support zone stopped the previous minor correction (ii).

Given the strength of the aforementioned support area – Bitcoin cryptocurrency can be expected to rise further toward the next round resistance level 40000.00.

BTCUSD - Primary Analysis - May-02 0855 AM (1 day)

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