Bitcoin falls back under $40,000 currently
There was a bullish play in Bitcoin on the weekend as price rallied above $40,000 and it looked like things were setting up for a technical breakout.
The topside push also seems to run into some resistance from the 38.2 retracement level of the recent downswing @ $42,589 , for what it’s worth.
In any case, the pullback draws Bitcoin back to its previous range of between $30,000 and $40,000. The daily close today will be vital as buyers will have to try and keep above the 100-day moving average and $40,000 level to sustain any upside momentum.
Otherwise, it’s back to the drawing board again.