Bitcoin (BTC), which has pulled back from the $45,000 resistance, could stabilise the down movement with initial support at $40,000
At press time, the cryptocurrency was trading at $42,200 and has fallen 4% in 24 hours.
BTC must be kept above the $37,000 threshold in order to maintain the recovery phase. A decisive move above $46,000 could lead to further upside targets towards $50,000 if momentum continues.
