Bitcoin hits its highest level since mid May and has risen more than 15% over the past week.
Analysts see the cryptocurrency's price as remaining range-bound.
Analysts expect bitcoin to pause at around $40K before its next leg up.
Technical data suggests lower support around $34,000 could stabilize the current pullback.
The strong bounce in bitcoin over the weekend occurred as shorts covered positions.
Bitcoin sellers are expected to cover positions, which could lead to higher prices next week.
Bitcoin is holding up following a strong bounce from $30,000 support.
Bitcoin and other cryptos rallied as Musk boosted bullish sentiment during The B Word conference.
Bitcoin broke below $30K. Some analysts see value opportunities while others expect further downside.
Also, Circle might be an attractive "starter stock for the cautious" when it goes public, according to one analyst.
The Federal Reserve chief signaled the U.S. central bank isn’t likely to dial back monetary stimulus anytime soon.
Analysts see the possibility of further selling pressure despite short-term relief.
“We expect volatility to remain under pressure until mid [to] late August,” said one trading firm.
Ether is attempting to break above the 50-day moving average for the first time since March.
China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction.