Sustained higher levels mean a retreat to $30,000 is looking less and less essential to preserve the bull market.
Bitcoin (BTC) traded in a higher range on Friday, with analysts keen to see which critical levels would fall next.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining $35,000 support overnight on Thursday while so far staying clear of $40,000.
A push higher had taken the pair to $39,000 before the consolidation phase began, but overall, Bitcoin was yet to make a decisive move up or down on longer timeframes.
For popular trader Rekt Capital, $38,000 needed to be flipped to support.
“The ~$38,000 area for BTC is the one to watch right now,” he noted on Wednesday, noting its significance in the current consolidation cycle.
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