Bitcoin (BTC) broke below a month-long uptrend, which means sellers are in control. Pullbacks appear to be short-term within a broader recovery phase from January lows.Read MoreFeedzy
Bitcoin (BTC) remains in pullback mode after failing to break above the $48,000 resistance level last week.
The cryptocurrency was trading around $43,900 at press time and could find support at $40,000-$43,000.
BTC is down 4% over the past 24 hours, which is less than some popular alternative cryptocurrencies (altcoins), indicating a lower appetite for risk among crypto traders.
On intraday charts, BTC broke below a month-long uptrend. That means short-term sellers are in control, especially after the breakout level around $45,000 was rejected on Tuesday.
Recent breakdowns on the charts have confirmed negative momentum signals, although pullbacks appear to be limited. For now, the broader recovery from January lows remains intact.
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