Bitcoin is once again below $40,000. Despite yesterday's strong upward movement towards $43,000, bulls were unable to hold prices above $40,000. Bitcoin is again under pressure. Trend remains unclear as price continues to trade mostly sideways over the last few weeks.
Green line - support
Since mid January price has not made any real progress. Bulls need to break above the red resistance trend line and at the same time respect the green support line. Failure to hold above the green line will lead to strong sell off. Delaying to break above $45,500 will also lead to a decline later on. Bulls need to show signs of strength.