Bitcoin Analysis
BTC remained below the 50-day EMA while holding above the 200-day EMA. The EMAs sent bearish near-term but bullish longer-term price signals.
A BTC break above the morning high of $40,277 would support a move to the 50-day EMA. A breakout from the 50-day EMA would bring the $42,968 resistance level into play.
On Wednesday, investors must consider crypto-spot ETF-related news and US lawmaker scrutiny.
However, a break below the $39,861 support level would give the bears a run at the $37,986 support level.
The 14-Daily RSI reading, 37.57, indicates a BTC fall below the Tuesday low of $38,547 before entering oversold territory.
