On the upside, recovery may not come easy but a sustainable move above the 9-day and 21-day moving averages could found resistance at $48,000, which may negate the bearish scenario and allow for an extended recovery towards the resistance levels at $52,000, $54,000, and $56,000. However, an increase in selling pressure across the market could force the Bitcoin price towards a painful path and through various tentative supports at $44,000, $42,000, and $40,000.
BTC/USD Medium
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