Bitcoin (BTC) closed another $ 40,000 mark to retest on September 26th as the battle for the weekly close raged.

BTC will “unlikely” to survive below $ 40,000

Data from Cointelegraph Markets Pro and TradingView show BTC / USD fell to $ 40,800 overnight after sellers previously unsuccessfully tried to flip the $ 40,000 resistance level.

Given tough conditions keeping BTC price action in a tight range, Sunday’s attention focused on where a long-term low could be. Analysts are also clearly optimistic about what could happen after that.

In one a bunch of tweets Given the general state of Bitcoin, popular trader Pentoshi sees $ 37,000 as a potential exchange.

“This looks healthy for HTF and will likely base it on previous HHs en route to ATH and possibly HL here at Summer PoB,” noted popular Twitter retailer Pentoshi in a series of tweets about the general condition reflect from Bitcoin.

“While I believe $ BTC could trade at 37,000 in the short term, it’s unlikely to stay there long.”

Pentoshi saw significant bids ranging from $ 36,000 to $ 40,000. These are, as Cointelegraph also reported, rare in size.

“We can see that bids on these levels have been stacked for the purpose of occupation, but their sheer size is something I’ve never seen before on most platforms. Exchange,” he wrote.

“The lower part is closer than you think, and the upper part might be a number that you cannot understand at the moment.”

 

Huobi “retired” all Chinese users

Elsewhere, concerns about China proved just as difficult to detach from sentimentality.

Related: Cryptocurrencies have rallied from China’s FUD more than a dozen times in the past 12 years

The Huobi exchange has seen 10,000 BTC inflows as it prepares to cease operations in China, but those numbers are still small compared to last month’s results.

 

“In order to comply with local laws and regulations, Huobi Global has suspended account registration for new users in mainland China effective September 24, 2021 (UTC + 8),” said a statement released by the exchange on Sunday.

“Huobi Global will gradually remove existing user accounts in mainland China on December 31, 2021 at 12:00 p.m. (UTC + 8) and ensure the security of user resources.”