On Thursday, March 31, at the end of the day, bitcoin fell by 3.31% to $45510. After the price reached the level of $48189, the market was in a sideways trend for a couple of days. The flat dragged on, sellers began to take profits on long positions from $47,750 (the upper limit of the ascending channel on the daily TF).
Bitcoin sales began earlier than the decline in American stock indexes. The SP500 and Nasdaq indices could close in the red before the publication of the US labor market report for March, as well as portfolio balancing on the last day of the month and quarter.
As soon as the price broke through the $46,000 level.
The fall accelerated to $45,500, on Friday to $44,200. With the growth of futures on American stock indices, the bitcoin exchange rate recovered to $ 45324. On the daily TF, the situation is not critical if the daily candle closes above $45750. On the hourly TF, buyers need to pass the $46400 level. If the price remains trading under the 45750-46000 zone, then there is a high probability of sliding to the $42000 level.