Bitcoin Breaks Above $40K Again, But When Will Consolidation End?

Bitcoin is still struggling to break out of the cage that is the $40K-$44K price range. Reaching this level has not been the problem for the digital asset, but successfully breaking above it and maintaining consistent momentum above the $45,000 price point has been the biggest hurdle. Consolidation continues to be the name of the game. But how soon will this come to an end? Bitcoin Is Still Consolidating Bitcoin has continued to consolidate in recent times. It had broken through $40,000 three times already in the first two months of 2022 and the recent break above this point marks the fourth time. However, the previous three times have all had the same, it seems inevitable, outcome. The digital asset has not been able to maintain its position above $40K, eventually sliding back down to $38,000. Related Reading | Crypto Market Crumbles To Extreme Fear, Is It Time To Buy? At all times, bitcoin has presented strong support at the $36,000-$38,000 level, making it the point to beat for bears and the place to hold for bulls. So far, the bulls have proven to have the upper hand at the level. But for bitcoin, the consolidation has continued on. BTC trading above $41,000 | Source: BTCUSD on TradingView.com With so much time passed with current consolidation, the market has been expected to break out of it and head towards $45,000 eventually but this would prove to not be the case. Rather, the tug-of-war between bears and bull...