June 6, 2023

Crypto Trader Still Sees Bitcoin's Next Target at $40,000

Popular crypto trader Kaleo (@CryptoKaleo) tweeted (the company is recognized as extremist and banned on Russian territory), which is still optimistic aboutthe leader of the bitcoin (BTC) crypto market. Judging by his message, nothing has changed in the position of the cryptocurrency, and the next target for BTC is the $40,000 mark.

According to CoinGecko, over the past 24 hours, the priceBTC rose by 5.1%. Despite the daily increase, the weekly dynamics is barely positive - 0.2%. Currently, the leading cryptocurrency by market capitalization is trading at $28,330.

BTC also made it to CoinMarketCap's trending list and took second place, propped up by Arbitrum (ARB) at the bottom and XRP at the top. Interestingly, over the past day, BTC dominance has dropped by 0.02% to 44.6%.

Crypto Trader Still Sees Bitcoin's Next Target at $40,000

BTC/USDT daily chart (Source: TradingView)

BTC price dropped last weekpositive trendline and has since consolidated between $26,617 and $28,138. A close above the 9-day EMA today is likely to be bullish for BTC.

If BTC price manages to break and close above the $28,138 resistance level over the next 24 hours, then it is likely to move towards the next resistance level around $28,318.

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