BTC/USD decline reaches 40,000.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


As reported on December 1, the price for BTC broke the channel up pattern on November 26. The event was followed by a decline, which recently reached the 40,000.00 mark and a support zone that surrounds it. 

In addition, it was spotted at the start of January that the decline had taken the form of a narrow channel down pattern. However, take into account that the pattern was pierced during the flash crash of December 4.

If the price recovers from the 39,650.00/40,730.00 zone, BTC/USD might test the resistance of the upper trend line of the channel down pattern near 45,000.00. Above the trend line, the combination of the 50 and 200-day simple moving averages might provide resistance near 49,000.00. However, the SMAs have only partially impacted the price, as on they own they have not moved the price.

Meanwhile, a move below the 39,650.00 level could look for support in round exchange rate levels, before reaching the 2021 summer low level zone at 28,850.00/29.700.00.
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