Bitcoin fails to beat resistance as $40K stays out of reach into weekly close
A dark week looms for macro markets while the weekend succeeds in providing some respite for crypto traders. Bitcoin (BTC) faced down $40,000 on Feb. 27 as hopes for the weekly close hinged on avoiding a fourth red monthly candle in a row.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTensions mount for TradFi markets openData from Cointelegraph Markets Pro and TradingView showed BTC/USD making several attempts to break out of the $30,000-$40,000 corridor Sunday, all of which ended in rejection.The pair had stayed broadly higher throughout the weekend, cutting traders some....
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Bitcoin has hit a roadblock in its recent upward trajectory. After the digital asset had successfully broken above $47,000, it had been subsequently beaten down by the bears. This was a result of an important resistance point that proved impossible for bitcoin to beat at the time. It continues to struggle with this point even now and has declined into the $44,000 territory. This point remains the level to beat for the cryptocurrency to once more register a bullish trend. Bitcoin Fails To Break Resistance Bitcoin establishing a bullish trend can sometimes be a tricky thing. This is due to....
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