BTC Slips Below $40000 Mark; Is $36000 A Good Buy Target

The BTC chart shows that the coin has lost 18% in the last four days. The sufficient volume activity on the seller’s side suggests the coin would soon visit the $36000 monthly support. If sellers breach this support level as well, the bitcoin traders can expect another 8.5% fall, retesting the January low at $33000.
On a contrary note, if the shared support of $36000 and traditional pivot level bolster the buyers to regain control from the bears. Then, the coin price would surge higher to rechallenge the $45000 barrier. This formidable resistance is crucial for buyers to initiate a genuine recovery.

• Resistance level- $40000, $45000
• Support level- $36000, $33000

The recent reversal has slipped the BTC price below the(20, 50, and 100) EMAs. Moreover, a bearish alignment among these EMAs indicates a bearish tendency.

The RSI indicator slope wavering above-below the neutral line accentuates a side-way rally in price action. However, the slope currently moving below the midline suggests the bears have the upper hand.

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