Data from Cointelegraph Markets Pro and TradingView shows that lines in the sand below $40,000 barely remain intact after multiple retests.
The $40,000 mark has been working overtime in recent days as Bitcoin’s macro-fueled downtrend continues to play out. Falling in line with tech stocks, BTC/USD has erased almost all of its gains from the second half of March.
Now, the $30,000-$40,000 corridor has appeared as a short-term target once again and may see Bitcoin stage a replay of its behavior from Q1 this year.
Support levels of interest include one from last month’s push higher, $39,600, which bulls are just about managing to defend despite several crossings lower.
The $40,000 mark has been working overtime in recent days as Bitcoin’s macro-fueled downtrend continues to play out. Falling in line with tech stocks, BTC/USD has erased almost all of its gains from the second half of March.
Now, the $30,000-$40,000 corridor has appeared as a short-term target once again and may see Bitcoin stage a replay of its behavior from Q1 this year.
Support levels of interest include one from last month’s push higher, $39,600, which bulls are just about managing to defend despite several crossings lower.