BTC price analysis

Bitcoin's rally topped $31,000, but bears' selling pressure pushed it down to $29,763.

BTC/USDT pair rebounded off 20-day EMA, indicating buying opportunity in minor dips. This boosts rally above resistance zone, potentially reaching $40,000. Bears may stall, but buyers bulldoze through.

On the other hand, it will signal that bears are in control if the price declines and breaks below the 20-day EMA. The 50-day simple moving average (SMA) of $27,971 may then be reached by the pair.