Bitcoin (BTC) sealed another $forty,000 retest on Sunday, Sept. 26, as the boxing for the weekly close raged on.

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

BTC "unlikely" to linger below $40,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $40,800 overnight, following an earlier unsuccessful attempt past sellers to flip $40,000 back to resistance.

With stubborn conditions keeping BTC price action in a narrow range, attention on Sun focused on where the longer-term bottom might be. Analysts also stayed clearly bullish on what might come up after.

In a series of tweets reflecting on the broader state of Bitcoin, popular trader Pentoshi eyed $37,000 as a potential floor.

"This looks healthy on the HTF's and is likely forming a base over the previous HH on the way to ATH'due south and potentially a HL here at the Summer PoB," popular Twitter trader Pentoshi commented in a series of tweets reflecting on the broader state of Bitcoin.

"While I believe $BTC can briefly trade as low as 37k it is unlikely to be there long."

Pentoshi noted significant buyer bids in identify in the area between $36,000 and $40,000. These, as Cointelegraph too reported, are rare in terms of size.

"We can see bids accept been stacked on exchanges at those levels with the intent to fill, but the sheer size of them is something I've never seen earlier beyond almost exchanges," he wrote.

"The lesser is closer than you recall, and the height is probable a number you tin can't comprehend at this fourth dimension."
BTC/USD buy/ sell levels (Binance) as of Sept. 26. Source: Material Indicators

Huobi to "retire" all Chinese users

Elsewhere, concerns over China proved every bit difficult to shift from sentiment.

Related: Crypto has recovered from China'south FUD over a dozen times in the concluding 12 years

Exchange Huobi saw ten,000 BTC inflows equally information technology prepared to halt its Chinese operations, these nonetheless small in comparison to those witnessed fifty-fifty last month.

Huobi BTC residue nautical chart. Source: Bybt

"To comply with local laws and regulations, Huobi Global has ceased account registration for new users in Mainland China, effective September 24, 2022 (UTC+viii)," an announcement from the exchange released Sunday reads.

"Huobi Global volition gradually retire existing Mainland China user accounts by 24:00 (UTC+8) on December 31, 2022, and ensure the safety of users' assets."

As Cointelegraph reported, despite the wide media coverage, goose egg has inverse in Red china'south cryptocurrency opinion, with its crypto ban in place and essentially unchanged since September 2022.