BTC Stalls at $44K: Eyeing a Dip to $39K-$35K

Bitcoin's recent attempts to breach the $44K mark seem to be losing steam, hinting at a possible downturn. The inability to break this key resistance level could signal a shift in market sentiment, leading to a retracement.

Key levels to monitor:

Immediate Resistance: $44K
Potential Downward Targets:
- $35K

If BTC fails to sustain above $43K, we might witness a move towards the
-$35K zone. This range could act as a crucial support area, offering opportunities for accumulation or re-entry for those on the sidelines.

Traders should watch for:

Volume changes as BTC approaches these levels.
Market sentiment indicators that might suggest a shift.

Key technical patterns that could confirm the downward trajectory.

While the broader market context remains bullish with the upcoming ETF decision, short-term movements could be dominated by these technical barriers.

A cautious approach is advised, with a keen eye on how BTC interacts with these pivotal price points.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.