Bitcoin (BTC) is stuck in a choppy trading range, anchored at the $30K price level. Upside appears limited as most indicators are neutral short-term and bearish long-term.Read MoreFeedzy
Bitcoin (BTC) recovered from a low of around $28,000 earlier in the New York trading day. The cryptocurrency remains in a tight trading range, anchored at the $30,000 price level over the past two weeks.
BTC was trading around $29,500 at press time and is roughly flat over the past 24 hours, and down by 2% over the past week.
For now, there is strong resistance on the chart, initially at $33,000 and then at $35,000, which could stall an upswing in price. Momentum will need to improve on the weekly and monthly charts in order to sustain a price rise.
Most indicators are neutral over the short-term and bearish over the long-term, which means upside is limited from here.
Read more about
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
