Bitcoin (BTC) held support at $37,500, although upside momentum is slowing. Buyers will need to keep price elevated above $40K in order to sustain a recovery.Read MoreFeedzy
Selling pressure appears to be stabilizing over the short-term, although upside momentum could slow around the $40,000-$43,000 resistance zone.
BTC was trading around $39,000 at press time and is up by 2% over the past 24 hours. Buyers will need to keep prices elevated above $40,000 in order to sustain the recovery phase.
Still, there has been a slight loss of upside momentum over the past few days, which means BTC will likely remain in a tight trading range until a breakout or breakdown is confirmed. For now, most technical indicators are neutral.
DISCLOSURE
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.
Shares in Trump media experienced a similar dynamic before the recent price slide.Read MoreCoinDesk: Bitcoin,…
Bitcoin (BTC) has recently experienced a massive surge, rising over 39% since November 5th to…
Bitcoin has reached a major milestone by surpassing the $90,000 price mark, marking a significant…
The massive Bitcoin (BTC) rally following Donald Trump’s victory in the US presidential election is…
“We believe that the underlying strength in BTC represents a systematic shift in the market…
Bitcoin (BTC) recently reached a new all-time high (ATH) of $93,477, as the leading digital…