Bitcoin briefly kissed the $40,000 price mark recently and currently, it makes a sideways movement. This Bitcoin support level of $40,000 can’t contain the fall and here is why.
Bitcoin price today is $40,253.13 USD with a 24-hour trading volume of $26,261,633,659 USD. Bitcoin is down 3.83% in the last 24 hours, with a market cap of $763,276,588,803 USD. It has a circulating supply of 18,961,918 BTC coins.
Bitcoin support level: Analysis
Bitcoin has significant support at $41300 however it was broken with huge red candles that spiked the selling pressure. The support of $40,000 could be a psychological number to hold off but it is not powerful enough to tackle the bearish rally. Bitcoin has more considerable support at $38,000 and there is resistance at the previous support level of $41300.