Share this article
Bitcoin Rises Past $40K; Resistance at $43K and $46K
The price jump reflects short-term bullish activity, although upside appears limited.
Updated May 11, 2023, 6:16 p.m. Published Feb 28, 2022, 6:58 p.m.
Bitcoin (BTC) broke above the $40,000 price level on intraday charts, indicating short-term bullish activity. The cryptocurrency pared earlier losses, although immediate resistance around current levels could stall the upswing.
BTC was trading around $41,200 at press time and is up 5% over the past 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The two-week long downtrend registered a downside exhaustion signal on Feb. 24, per the DeMARK indicators, which typically precedes brief price rallies. Still, long-term momentum indicators are negative, pointing to limited upside around the $43,000-$46,000 resistance zone.
For now, BTC will need to remain above the 100-day moving average on the four-hour chart, currently near $40,000, to confirm upside targets. Lower support is seen at $37,000, which could stabilize pullbacks into the Asia trading day.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Fidelity's Jurrien Timmer: Expect lame 2026 as four-year bitcoin cycle appears intact
The director of global macro at the asset management giant remains a secular bull on bitcoin, but isn't optimistic about the next year.
What to know:
- A number of notable market analysts of late have dismissed the idea of bitcoin's four-year cycle and the nearly certain bear market that might imply.
- Fidelity's Jurrien Timmer, however, says the action so far this time around lines up about perfectly with past four-year cycles and the current bearish action should last deep into 2026.
Top Stories
