Bitcoin Rate Fell Below $40K

Bitcoin, after a brilliant jump and a short period of volatility above $40,000 without finding the necessary support at this level, fell again on March 10th.

According to TradingView, the well-known “Bart Simpson” recovery pattern is clearly visible on the BTC/USD chart.

At first, the BTC/USD pair managed to overcome the $42,000 level before consolidating. However, the lack of necessary support meant that a fall below $40,000 was inevitable.

Over the past few weeks, a similar Barth pattern has already appeared several times. Trader and analyst Matthew Hyland posted a chart on Twitter with key BTC/USD resistance levels to overcome. In addition, he outlined support levels at $36,300 and $33,000, which, in his opinion, the bulls simply need to hold.

Bitcoin’s volatility has also affected many of the top 10 altcoins by market capitalization, according to Coinmarketcap. Avalanche (AVAX) lost the most in price, dropping 7.43%. Also, after Bitcoin, the Solana (SOL) rate fell down, losing 6.68% from its previous value over the past day. In third place in terms of losses was Ethereum (ETH), which lost 5.71% of its value.

The BTC-Alpha team together with trusted volunteer communities created a charity fund ‘‘Alpha for Ukraine’. You can make a donation to help everyone in Ukraine who needs medicines, humanitarian aid and to support the defence of the country.

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