Bitcoin Holds Short-Term Support; Faces Resistance at $41K

Bitcoin (BTC) stabilized around $38,000 support on Wednesday, but upside appears limited towards $41,000. The choppy range over the past few days suggests indecision between buyers and sellers.

A breakout from the trading range would yield an upside target towards the next resistance level around $45,000. However, upside momentum has been weak, which means the corrective phase from May is not yet complete.

Bitcoin was trading around $39,200 at press time and is up 7% over the past seven days.

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