Yesterday buyers were able to overcome the resistance level of $36,000 and consolidated above the level of $37,150. Late in the evening, growth continued to the three-hour EMA55.

This morning, the moving average has limited further growth in the price of Bitcoin (BTC). In the morning, the pair will try to gain a foothold in a sideways range, using the level at $37,150.

In case of a break above the average price level, the pair might continue to recover to the mark of $42,447. If bears push the price back below $37,150, then the lilac level of $36,000 can act as a support.

Bitcoin is trading at $40000 at press time.

Join us on FB and Twitter to stay updated on the latest market events.