Bitcoin market is very sensitive to the $40,000 level as it is acting as a magnet for price.
This indicator has been offering a bit of dynamic resistance recently, and therefore the move is not a huge surprise.
I believe that we are looking at a situation where we are going to continue to go back and forth. That being said, consolidation in this general vicinity can either be a significant accumulation area, or it may be “consolidation that leads to continuation.”
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