Bitcoin Price experiences a slip below $40,000 as bearish forces take control, creating turbulence within the crypto space.
The strength of BTC bears becomes evident as they exert pressure, driving the price below the critical $40,000 support zone.
Bitcoin's value maintains a bearish trend below $42,000, with bears assuming a leading role in dictating the market dynamics.
BTC consolidates losses, facing downside risks below $38,500.
Bearish momentum strengthens below $40,500, creating challenges for Bitcoin's recovery.
BTC's correction above $40,000 faces resistance, with bears remaining active near $40,500.
Weekly chart signals BTC bears in control for the past three weeks, losing grip on the rally.
Coin Gabbar analysis reveals that, BTC forms a Doji candle in the weekly chart, indicating uncertainty and potential reversal.
KEY LEVELS :
RESISTANCE LEVEL : $40,500-$41,000
SUPPORT LEVEL : $39,400-$38,700
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
