It was just a few days ago that the leading cryptocurrency hit a high of about $43,000, its highest level in over 10 days.
BTC, on the other hand, was roundly rejected at its local peak and quickly reversed course.
Bears are expected to aim for the $38,536 swing low from Monday, which is a clear objective for those still in the trade.
BTC price has to open above $44,088.73 on Monday, as a Macron victory will cause the Greenback to fall further, allowing for further upside possibilities.
The French election is the major event risk this weekend.
Currently, investors are ‘waiting and watching’ to see how the supply-demand situation will react to the support area.
A bounce-back is expected at the price from the current level with the bulls targeting the 51,000 mark.
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