BTCUSD prices recently reversed down from the resistance area located amongst the key resistance level 46000.00 (former top of wave 1 from the middle of February, as seen from the daily Bitcoin chart below) upper daily Bollinger Band and the 38.2% Fibonacci correction of the previously shown downward impulse from November.
Given the strength of the aforementioned resistance area and the reversal of the positive sentiment improvement across the cryptocurrency market – Bitcoin cryptocurrency can be expected to fall further toward the next support level 42000.00.