Bitcoin Dips Below $40,000

Bitcoin had a significant drop as the week came to a close, finally dropping below the key support levels of $40,000 and $38,000 before finally coming to rest in the $35,000 region. As this is not the first time prices have returned to these levels, bulls may be in preparation to take advantage of the lower prices to enter the market, whereas bears may look to push the price further.

  • Should the price break above $38,000, bulls may see a return to price levels above $40,000 in the near future.
  • However, should the price dip further below $30,000, $28,000 may become the next target for bears.