Bitcoin Exceeded $ 43 Thousand

Bitcoin exceeded $ 43 thousand today. So what levels are next for the leading cryptocurrency? Let's take a look at the analysts' comments.

Bitcoin price has turned green again and will face little resistance in the future, according to analysts. BTC price managed to rise from $40,000 to $43,800.

Analysts Say BTC Could Hit $47,600

Data from Bybt has proven that more than $180 million of short positions have been liquidated in the past few hours. It seems that a break of the $41,000 level led to a short squeeze, pushing BTC higher. While there are a few technical reasons to be bearish in the medium term, the short term future looks bright. [caption id="" align="alignnone" width="1024"] Source: TradingView[/caption] Bitcoin sought the 100-day moving average as support once again and saw a higher high. These developments show that BTC currently has the buying pressure it needs to hold the 200-day moving average at $45,000 and move further. The descending triangle that Bitcoin broke out on July 26 indicates that the recent rise will extend towards $47,600. This result will be shaped by the ability of the leading cryptocurrency to surpass the 200-day moving average. While technical data suggests that the 200-day moving average could act as a key resistance on the uptrend, its trading history proves there is no significant supply barrier in the future. The only areas of interest that can remove some of the buying pressure seen recently are between $42,650 and $43,900. At this level, about 30,000 addresses previously bought more than 350,000 BTC. There is also the possibility that investors in this price range will try to break even in their underwater positions, thereby slowing Bitcoin's uptrend. [caption id="" align="alignnone" width="1024"] Source: TradingView[/caption] Besides, another increase in buy orders around current price levels allowing BTC to break through this hurdle may be needed to reach its upside potential. It should be noted that now that the $40,000 level has turned into support, it will likely play a vital role in Bitcoin's uptrend. The most important support levels below $40,000 are $35,000 and $29,500.