Bitcoin traders express mixed emotions about what’s next for BTC price By Cointelegraph

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Bitcoin traders express mixed emotions about what’s next for BTC price

The rumor that Amazon (NASDAQ:) would accept cryptocurrency payments sparked a wave of bullish enthusiasm across the crypto market earlier in the week but now this sentiment has begun to wane as (BTC) bulls face stiff resistance at the $40,000 level.

Data from Cointelegraph Markets Pro and TradingView shows that bears have managed to fend off multiple attempts to flip the $40,000 level to support and defense of this zone continued on July 29 as Bitcoin’s stagnant price action and added to concerns that the price could fall back to last week’s $35,000 to $30,000 range.

1-day chart. Source: TradingView
6-day chart. Source: Twitter
Bitcoin price in four-year cycles. Source: Twitter