Analysts Remain Optimistic of an Imminent BTC Price Surge despite Current Pullback

Bitcoin is trading in a short-term bearish zone after it tanked below $40K on Aug 3 as bulls failed to force a breakout above the $42K level. The coin hit highs of $42,435 on Aug 1 following three days of convincing attempted breakouts above that stubborn resistance, but upward momentum is now fading. BTCUSD has broken below $38.4K at press time after shedding 4% off its gains in the past 24 hours. After breaking below the $39,200 support levels in…