Analyst: Bitcoin (BTC) Likely to Climb Back Above $3,500 After Finding Support at $3,4002.8

Earlier this week, Bitcoin (BTC) failed to uphold its previously established support level around $3,550, which led to a sharp drop to $3,400. Although at the time of this drop many analysts expected BTC’s main region of support to exist around its 2018 lows at approximately $3,200, the cryptocurrency was able to find support at $3,400.

Because Bitcoin has established $3,400 as a level of support for an extended period of time, it may soon be able to climb back above $3,500, which could lead to further upside.

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