The $40,000 support level has maintained its status as the midpoint of the three-month long price range for BTC.
BTC was trading around $40,900 at press time and is up by 2% over the past 24 hours.
Immediate resistance is seen at $43,000, which could stall the current upswing in price.
Further, a countertrend reversal signal appeared earlier today, per the DeMARK indicators, similar to the January 24 signal, which preceded a 30% rally in BTC.
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