Analysts expect traders to take a breather after the crypto's recent rally.
Bitcoin's uptrend is improving despite brief pullbacks.
The largest cryptocurrency by market value was trading close to its highest level in more than two months
Analysts said the market doesn't have much of an appetite now for bitcoin above $46,000 or for a massive selloff.
The crypto is now up 57% year to date.
Bitcoin pulled back as traders digest regulatory developments in the U.S.
Bitcoin is up about 20% over the past week, compared to a 25% rise in ether, the world’s second-largest cryptocurrency by market value.
Bitcoin and ether remain well bid as U.S. senators reach a compromise on the crypto provision of the infrastructure bill.
Buyers could remain active on pullbacks this week as bitcoin cleared important technical levels.
Some analysts are optimistic about the broad crypto rally and see further upside, especially for ether.
Strong overhead resistance could limit price rallies into next week.
Ether is up 3% over the past 24 hours.
Initial support around $34K could stabilize the pullback.
Bulls returned to defend short-term support in bitcoin and ether.
Bitcoin buyers could maintain support above $36K.