After surviving the FOMC event while hanging onto the 40k handle, bitcoin has seem to lost momentum and is trading sideways at this price level. The good news for the bulls is that we are trading in the 40k handle and seem to be developing fair market value at this price. The bad news is that if it cant go up further, its likely to see some selling pressure. As we have mentioned many times before the broad range for a real move in bitcoin will be a break of 45k to the upside or 38k to the downside.