Altcoins are struggling to continue their increase of the last day, and look to be on pause, as bitcoin decides whether it can break the big resistance at $38,000.

An important point has been reached by the crypto market. Bitcoin is faced with a very big resistance at $38,000, while altcoins look to be striving to hold their gains of the last 24 hours.

Bitcoin in narrowing range

An hour or two goes by in crypto and an incredibly fast-paced environment can alter very quickly. Bitcoin is still looking to challenge the $38,000 price level but early signs are that the king of the cryptocurrencies could get rejected once again, but will this be for long?

Source: Trading View

Looking at the short term 4-hour time frame, wicks up to the resistance tell the story of rejection. …