Bitcoin Continues to Trade Below $43,000

The BTC/USD rate started the new week in the established trading range between $40,000 and $45,000, according to TradingView.

Analyst William Clemente said Bitcoin is bouncing along an ascending trend line this month and will soon approach the turning point as part of the wedge construction.

CryptoQuant data showed that in the market, traders are still using a near-record high level of leverage, which only started to decline in the second week of January.

Analyst Vince Prince warned that Bitcoin’s high leverage ratio is indicative of fears that a significant increase in volatility will soon follow.

“Technically, if Bitcoin breaks the $40,000 level, that would result in a lot of stop losses,” he added.

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