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Bitcoin (BTC) sealed another $40,000 retest on Sunday, Sept. 26, as the battle for the weekly close raged on.

Data from Cointelegraph Markets Pro and TradingViewshowed BTC/USD dipping to $40,800 overnight, following an earlier unsuccessful attempt by sellers to flip $40,000 back to resistance.

With stubborn conditions keeping BTC price action in a narrow range, attention on Sunday focused on where the longer-term bottom might be. Analysts also stayed conspicuously bullish on what might come afterward.

In a series of tweets reflecting on the broader state of Bitcoin, popular trader Pentoshi eyed $37,000 as a potential floor.

This looks healthy on the HTFs and is likely forming a base over the previous HH on the way to ATHs and potentially a HL here at the Summer PoB, popular Twitter trader Pentoshi commented in a series of tweets reflecting on the broader state of Bitcoin.

Pentoshi noted significant buyer bids in place in the area between $36,000 and $40,000. These, as Cointelegraph also reported, are rare in terms of size.

We can see bids have been stacked on exchanges at those levels with the intent to fill, but the sheer size of them is something Ive never seen before across most exchanges, he wrote.

Elsewhere, concerns over China proved equally difficult to shift from sentiment.

Related:Crypto has recovered from China's FUD over a dozen times in the last 12 years

Exchange Huobi saw 10,000 BTC inflows as it prepared to halt its Chinese operations, these nonetheless small in comparison to those witnessed even last month.

To comply with local laws and regulations, Huobi Global has ceased account registration for new users in Mainland China, effective September 24, 2021 (UTC+8), an announcement from the exchange released Sunday reads.

As Cointelegraph reported, despite the wide media coverage, nothing has changed in Chinas cryptocurrency stance, with its crypto ban in place and essentially unchanged since September 2017.

Originally posted here:
Bitcoin could hit $37K, but trader says BTC price top will be number you cant comprehend - Cointelegraph