Bitcoin sees ‘mother of all consolidations’ as $40K BTC price squeeze fails

Bitcoin (BTC) saw a fresh brief short squeeze overnight on March 15 with bulls still attempting to crack $40,000 resistance.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Traders uninspired by market composition

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs just short of the psychological barrier Tuesday before returning to previous levels.

The now all-too-familiar “Bart” formation followed news that the European Union had rejected a regulatory…


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