Since then, some negative statistics have hit the news wires, adding to the scrutiny over the impact of Bitcoin mining on the environment.
“These decisions are informed by our climate commitments.
This year, a U.S congress sub-committee explored Proof-of-Work cryptos and their impact on the environment.
At the time of writing, Bitcoin was down 0.75% to $39,788.
Bitcoin will need to move through the day’s $40,012 pivot to make a run on the First Major Resistance Level at $40,757.
In the event of another extended rally, Bitcoin could test the Second Major Resistance Level at $41,417 and resistance at $41,500.
Failure to move through the pivot would bring the First Major Support Level at $39,344 into play.
Looking at the EMAs and the 4-hourly candlestick chart , it is a bearish signal.