BTC Teases Downside

Bitcoin is sitting idle at within a range of $52,000 and $45,000.

Last weekend passed indecisively as BTC couldn’t break in either direction however it appears to cling to the support zone. The problem is that retailers’ stop losses will be waiting right below this support zone. Yes, breaking below this level can trigger a big bearish decline but whales might try to fake out the bearish trend just to liquidate the weak positions and get a better buying price. Besides this zone, the next support level is at $40,000 and the major resistance is at $57,000.