BTC bulls are losing conviction after rejection again above $41K. Bull-bear tug-of-war likely to extend amid healthy battle lines on either side. $38,800 is key support, $41,400 offers stiff resistance. Bitcoin (BTC/USD) has turned south, having failed to find acceptance above the $41,000 level once again for the third straight session on Sunday. Although the no.1 coin doesn’t seem to have topped out as yet, a corrective downside remains in place amid a bunch of healthy resistance levels stacked up. Let’s see how the world’s most dominant crypto asset is positioned technically. The Technical Confluences Indicator shows that the price has slipped back below the $40K barrier, with $38,800 seen as the powerful support. The level is the confluence of the previous day low and Fibonacci 23.6% one-week. Acceptance below the latter could trigger a sharp drop towards $37,600, which is the pivot point one-day S2. The next significant cushion for the BTC buyers awaits around $37K, where the pivot point one-month R2 lies. Alternatively, recapturing the $40K level (Fibonacci 38.2% one-day) is critical to resuming the journey towards the record highs of $41,987. Further up, $40,400 (Fibonacci 61.8% one-day/ SMA10four-hour) will challenge the bulls’ commitment, as they look to regain the $41K threshold. Meanwhile, the intersection of the previous day high and Bollinger Band one-day Upper at $41,400 could offer stiff resistance. Here is how it looks on the tool About Confluence Detector The TCI (Technical Confluences Indicator) is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. Learn more about Technical Confluence FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Forex Today: Dollar leads, despite mounting risk appetite FX Street 1 year BTC bulls are losing conviction after rejection again above $41K. Bull-bear tug-of-war likely to extend amid healthy battle lines on either side. $38,800 is key support, $41,400 offers stiff resistance. Bitcoin (BTC/USD) has turned south, having failed to find acceptance above the $41,000 level once again for the third straight session on Sunday. Although the no.1 coin doesn’t seem to have topped out as yet, a corrective downside remains in place amid a bunch of healthy resistance levels stacked up. Let’s see how the world’s most dominant crypto asset is positioned technically. The Technical Confluences Indicator shows that the price has slipped back below… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.