BTC Grind Continues

Bitcoin is ranging indecisively above the support of $40,000. It showed some volatility in the last few days but it wasn’t enough to decide the future course of the crypto coin.

Bitcoin’s support of $40,000 is very critical as it can play the role of triggering the huge bearish trend if broke downwards. Similarly, the resistance level of $50,000, above fib 0.5, will be troublesome as the selling pressure would rise. Above $50,000 we have the target of $58,000 in the bullish scenario. In the case of the bearish trend, the target is $30,000.