Bitcoin (BTC) is declining from overbought levels, although buyers could remain active around $43K support. Sellers could remain active into the Asia trading day until oversold signals appear on intraday charts.Read MoreFeedzy
Bitcoin (BTC) is in pullback mode after sellers responded to resistance at $48,000. The cryptocurrency could find support at $43,000 into the Asia trading day, which could stabilize the down move.
BTC was trading around $45,800 at press time and is down 3% over the past 24 hours.
The relative strength index (RSI) on the daily chart is declining from overbought levels, which typically precede pullbacks in price. On the weekly chart, however, the RSI is neutral with positive momentum readings. That means buyers could remain active at lower support levels.
Still, BTC is attempting to break below a two-week long uptrend, similar to what occurred in early February, which preceded a brief price drop.
For now, buyers will need to maintain the breakout above $45,000 to yield an upside target toward $50,966.
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.
Alexander Vinnik, the jailed former operator of once mighty bitcoin exchange BTC-e, is being released…
Founder: Nicolas Burtey Date Founded: September 2019 Location of Headquarters: United States Number of Employees:…
Bitcoin Twitter (or Bitcoin X) is having a moment after a 13F filing by Goldman…
After a relatively subdued price performance in 2024, Ethereum (ETH) could be on the verge…
In El Salvador, about two hours away from the capital, up in the mountains, lies…
Bitcoin has experienced a challenging period recently, with its price consistently declining over the past…