Bitcoin has failed, once again, to reclaim the $47,000 barrier, as the benchmark cryptocurrency tumbled below the $46,000 line after retesting the resistance a few hours ago.

This rejection could spell doom for the near-term price action in BTC , as it indicates that the
cryptocurrency could retest the $45,000 support soon. A retest of that support level should completely depressurize the trading sentiment around BTC and set it up for a stronger rebound to the $47,000 – $48,000 barrier.

Nonetheless, the prevailing trading sentiment remains bullish above $45,000, as bulls fight to hold the $45,650 pivot top.

Meanwhile, my resistance levels are at $46,000, $46,300, and $47,000, and my key support levels are at $45,650, $45,000, and $44,000.

Total Market Capitalization: $2.13 trillion

Bitcoin Market Capitalization: $871.6 billion

Bitcoin Dominance: 40 .9%

Market Rank: #1