Btc analysis

Bitcoin unable to hold the $48,800 area and leave a wick below $46,000 area. Bitcoin is now at the local support of $46,000-$46,500 area and if this is broken then we see a test of $44,000-$45,000 area. The major resistance still remains the same of $40,000-$42,000 and this is high demand zone. BTC need to go above $50,000 to get some bullish momentum.