BTCUSDT Daily Feb 21 2022 SDADOJ

BTC Price Analysis: Here’s the Next Crucial Support for Bitcoin After Losing $40K

Though the major static and dynamic support lines failed on a daily time frame, the long-term holders’ sell pressure (inflows to all exchanges) was reduced after failing the $39K support levels. A consolidation phase in the $36K-$40K range is the most expected behavior for the mid-term window.
Technical Analysis
By: Edris
Bitcoin price has lost two significant supports in the last couple of days, and the hopes for a recovery turned into fear. BTC is currently trading below the $40k mark and the 50-day moving average, both key levels were broken in the recent upside move. The following critical level to watch would be the $36k area. Having enough demand, a reversal towards the $40k resistance and the 50-day moving average could be anticipated.
Source: TradingView
The bearish momentum seems overwhelming on the 4-hour time frame as the price has been breaking below supports with ease. However, it is currently trading in a key Fibonacci retracement zone (between 50%

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