Bitcoin failed to settle above the key resistance point at $40,000 and fell towards $38,000, while other cryptocurrencies also found themselves under pressure.
Ethereum lately is looking to settle below the $2,500 point, while Dogecoin has moved below the vital point at $0. 20.
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Yesterday, crypto markets were concerned about the new infrastructure bill in the United States, which required more reporting from crypto exchanges and other market participants. It should be noted that the new bill did not come with new taxes or other serious impacts on cryptocurrencies.
At this point, it turns out that the new bill was used as an excuse to make more profit from the table, as Bitcoin faces serious resistance in the $40,000 to $42,000 range. more catalysts to continue its upward movement.
Bitcoin has settled below $39,200 and lately is looking to settle below the next point at $38,000. The RSI remains in moderate territory and there is enough room to gain further bearish momentum should the right catalysts emerge.
If Bitcoin falls below $38,000, it will head to the next point which is at the 20 EMA at $37,000 A move below 20 EMA to $37,000 will lead to the 50 EMA check which sits at about $36,500. settle below EMA 50, continue its downward trend and head towards $35,000
On the plus side, the point passed at $39,200 will serve as the first resistance point for Bitcoin. Si Bitcoin exceeds this point, you will have the possibility to pass the key resistance point verification at $40,000. A move above this point will pave the way for the $41,300 tension control. If Bitcoin exceeds $41,300, it will move to resistance at $42,000.
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