At the Wall Street open, ranging continued as bulls eyed levels for potential support in the event of further losses.both $40,000 and $41,000, along with several zones in the upper $30,000–$40,000 corridor.
For popular Twitter trader Muro, however, $42,000 needed to gain significance as an intermediate floor to flip sentiment bullish."Or I wouldn't be surprised if this retraces fully back. Leaning slightly bullish as long as 42 holds." An accompanying chart underscored that falling back to the area around $38,000 would likely be an attractive buy-in for investors, but that this, in itself, would not be conducive to further market strength.Cointelegraph contributor Michaël van de Poppe meanwhile said that Bitcoin was facing"crucial" resistance.
"In that regard, I'm assuming we won't break in one go and have a correction -> ending up bad for altcoins,At the time of writing, $43,000 was seeing repeated retests as Wall Street trading failed to spur fresh upside.In classic style, those zooming out were calmer, chalking up current price action to part of a consolidation phase now in place for more than 400 days.
It is likely that bitcoin will correct again after a small pump
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