Bitcoin reclaimed $40000 early wednesday gaining about 6% and hitting a high of $40394 on bitsamp , before retreating back below $40000. Currently bulls hold the leading postion as long as bbitcoin manages to sustain above $36000 on a daliy closing basis . Day before bitcoin had hit low of $36500 before the bulls reclaimed positions .
Every dip till $35500 seems will hold for now . The 200 day exponential moving average is currently placed at $37775 which will most likely provide support on any fall .
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As of now the $40000 is an area of major resistance .Bitcoin was trading at $39660 at the time of writing.
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