However, performance over the last two weeks failed to maintain the same buying vigor as it previously did every time the price interacted with the support line.
However, heavy accumulation between $39,000 and $40,000 has so far prevented more downside.
A breakout below the support level might be interpreted as an indication of bearishness ahead.
Among them is EV manufacturer Tesla which recently confirmed through its Q1 2022 earnings report that it still owns BTC worth $1.26 billion and does not plan to sell soon.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.