Bitcoin Rangebound Near Support; Resistance at $40K-$43K

Bitcoin Rangebound Near Support; Resistance at K-K
Bitcoin (BTC) is holding support above $37,000, albeit within a narrow trading range.The cryptocurrency is roughly flat over the past 24 hours, changing hands at press time around $38,500, up 3% over the past week.Buyers will need to make a decisive move above the $40,000 resistance level in order to pause the intermediate-term downtrend from November.For now, the relative strength index (RSI) on the four-hour chart is approaching overbought territory, which typically precedes a brief pullback in price. Additionally, the downward sloping 100-period moving average on the four-hour chart could limit price gains over the short term.On the daily chart,…