#BTCUSD Bitcoin turning lower from critical resistance

Bitcoin has turned lower from the critical daily resistance level at $40700. What makes this level even more important is that we have both the 200ema and 200sma which are just above this zone and add another layer of resistance. We could also argue that a larger Head & Shoulders formation could be forming with a possible neckline at $30000 should we get there in the days ahead. RSI resistance trendline still intact which has guided price lower from previous peaks. Lets see what the fed says tonight, which could be a catalyst for the next move in the Crypto currency markets, but I will only turn bullish here if we manage to break above the 40700 resistance level on a closing basis. We would then need to contend with both the 200 day moving averages. The other more likely scenario is that we retreat from current levels and retest the bottom of the channel (& possible neckline) at $30000. BTCUSD