Bitcoin has met some serious resistance at $40K, and reject this level for the third time, sending us back to $36.7K. We have just now broken this level and are in the $35K handle at the time of this writing. Worst case, BTC could retrace to $30K again. It is likely to find support there, however it has tested this lower bound twice already, and the more times it tests it, the more comfortable it is to break it. If we do see some momentum come through, we will have to contend with $36.7K and $37.7K, which will now provide resistance. After that, $40K has proven an extremely tough barrier.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.