Bitcoin price remained in a bearish zone after it broke the $39,200 support.
There was a move above the 23.6% Fib retracement level of the key decline from the $42,950 swing high to $38,200 low.
Besides, there was a break above a major bearish trend line with resistance near $39,550 on the hourly chart of the BTC/USD pair.
It is near the 50% Fib retracement level of the key decline from the $42,950 swing high to $38,200 low.
If bitcoin fails to clear the $41,000 resistance zone, it could start a downside correction.
The next major support is seen near the $39,800 level and the 100 hourly simple moving average.
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