Bitcoin Price Analysis: BTC Stable Above $40,000 As Consolidation Takes Precedence

• Bitcoin price holds firmly to the demand zone above $40,000 and is reinforced by the 100-day SMA.
• The IOMAP on-chain model highlights immense resistance and support levels, hinting at BTC’s consolidation lasting longer.

The flagship cryptocurrency appears to be in stasis between a rock and a hard place. On the downside, $40,000 has grown to be formidable support, while on the upside, $44,000 is a significant hindrance to the uptrend.