These are the Levels to Watch if BTC Breaks Below $40K - BitcoinEthereumNews.com
BitcoinThese are the Levels to Watch if BTC Breaks Below $40K04 / 16 / 2022बिटकॉइन एथेरियम समाचार Over the past week, the price of bitcoin has been plummeting with strong bearish momentum, resulting in a break below the 50-day and 100-day moving averages lines on the daily timeframe, indicating that the bears are presently in control of the market. लंबी अवधि: दैनिक चार्ट द्वारा तकनीकी विश्लेषण शायन However, the recent price action suggests that the negative momentum had weakened. The price experienced a short-term bullish leg towards $41.6K, which got rejected. But this can be considered as a pullback to the $41-42K resistance level. In the bigger picture, the $37K demand zone remains the next significant level of support for Bitcoin. Given the markets bearish momentum and sentiment, another bearish swing towards the $37K support level looks imminent. If the price breaks below the stated support level, the most probable scenario is a collapse towards the $33K critical demand zone. Short-Term: The 4H Chart The bulls attempted to test and break above the $42K resistance level but failed. In the short-term timeframe, two trendlines are forming a triangle price action pattern. A breakout in each direction may cause another leg to the next support/resistance level. As of now, Bitcoin has