Bitcoin falls 2% as buyers are still unable to clinch technical breakthrough


Bitcoin drops quickly below $39,000

Bitcoin
A quick drop for Bitcoin back under $39,000 now after testing waters just above $40,000 earlier in the day. Price is down 2% as buyers are starting to get exhausted after having run into key technical levels near the figure level throughout the week.

Bitcoin
The risk here is that the failure to firmly break $40,000 and the 100-day moving average (red line) could see buyers lose faith and conviction to keep with the move higher in the past week. That could see sellers step in with a defined risk level to try and push the pair back down towards testing the bottom of the range near $30,000 again.
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