Those who buy financial instruments in anticipation of a rise in bitcoin prices (so-called bulls) have failed to keep the price above $ 43,000, while bears (those who sell financial instruments in anticipation of a price drop) continue to push bitcoin to a minimum of $ 41,000. However, the bulls successfully defended the low of $ 41,000. This is why BTC / USD is currently trading at $ 42,023. However, if the bears push the price of BTC below $ 41,000, the largest cryptocurrency will drop to a low of $ 39,600. Buyers will do all they can to defend the crucial support at $ 39,600. On the other hand, if the price of BTC falls and then recovers above $ 39,600, the market will see an accelerated move towards the high of $ 47,000. The bullish momentum could extend above the psychological price level of $ 50,000. Conversely, if bitcoin breaks the $ 39,600 support, it will drop dramatically to a low of $ 30,000. This would plunge BTC / USD into a deeper correction. Over the past 48 hours, bitcoin has fluctuated between the levels of $ 41,600 and $ 42,700. Bitcoin has gradually dropped to level 36 of the relative strength index. This indicates that Bitcoin is trading in the downtrend zone. The cryptocurrency will drop below the 30 level of the RSI (Relative Strength Index, an index used to measure the speed and strength with which the price moves, in essence, the trend of the RSI allows you to have a visual feedback of how strong or weak a given market is, now and in the past) if it loses support, at $ 41,000. Bitcoin is above the 50% area of daily odds. The market is in bullish momentum, but is unstable as the price fluctuates.
That's why bitcoin is vulnerable below $ 41,000