Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains

Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains


Bitcoin has been rejected near the $44,000 price and has been moving sideways since earlier this week. The benchmark crypto could make another attempt to break this resistance levels but will most likely remain range bound until $50,000 and $53,000 are reclaim.

Related Reading | Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report

As of press time, Bitcoin trades at $42,341 with a 3.5% loss in the past day.

BTC moving sideways in the 4-hour chart. Source: BTCUSD Tradingview

Trending: Over 270 Fully Vaccinated Indiana Residents Passed Away of COVID-19 Complications in 3 Weeks

BTC’s price has performed positively after the U.S. Consumer Price Index (CPI) print, a metric used to measure inflation. Before the report came out, the order book for Bitcoin was clear and has been re-arranging during the week forming new levels of

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend