According to Barchart, Bitcoin is currently trading at $37,869.70, with a market capitalization of $709.5 billion and a 24-hour volume of $28 billion. Bitcoin has a circulating supply of 18.7 million and a total supply of 21 million.
- Bitcoin is in an uptrend, as it has been making higher highs and higher lows since reaching a low of $28,800.10 on January 22, 2024. Bitcoin is also above its 50-hour and 200-hour simple moving averages (SMA), which indicate bullish momentum.
- Bitcoin is facing strong resistance at $38,500, which is the high of the day and the upper boundary of an ascending channel that has been forming since January 23, 2024. Bitcoin needs to break above this level to confirm a trend continuation and target the next resistance levels at $40,000 (psychological level) and $42,000 (January 8 high).
- Bitcoin is supported by $37,000, which is the low of the day and the lower boundary of the ascending channel. Bitcoin needs to stay above this level to maintain the uptrend and target the next support levels at $36,000 (50-hour SMA) and $34,000 (200-hour SMA)
