FX.co ★ Bitcoin continues to drift around $42,000.

Bitcoin is trading around $42,000 price level with no clear direction over the last couple of days. Price seems unable to push above the resistance at $45,000 and at the same time the bearish trend is not strong enough to break below the recent lows at $39,550.

The last couple of days price is mostly moving sideways. The short-term trend since November highs and reversal is bearish. This remains true as long as price is below the red downward sloping trend line resistance. This resistance is at $43,700-$44,500 area. Bulls need to break above this level in order to hope for a bigger move higher. Until then, bears remain in control.