However, the recent sell-off in the crypto market has sunk the coin price to shared support of ascending trendline and $40000.
Responding to the bearish flag pattern channel, the Bitcoin price plunged below the $45000 support on April 6th.
The BTC/USDT price dropped to the $40000 psychological support level during the freefall, registering a 10% fall.
Conversely, If the Bitcoin price sustains above the $40000 mark, the buyers may trigger another bull cycle to reach the overhead resistance.
EMAs: The 50, 100, and 200-day EMAs are moving flat, indicating a range-bound rally for BTC.