Bitcoin (BTC) broke below a month-long uptrend, which means sellers are in control. Pullbacks appear to be short-term within a broader recovery phase from January lows.Read MoreFeedzy
Bitcoin (BTC) remains in pullback mode after failing to break above the $48,000 resistance level last week.
The cryptocurrency was trading around $43,900 at press time and could find support at $40,000-$43,000.
BTC is down 4% over the past 24 hours, which is less than some popular alternative cryptocurrencies (altcoins), indicating a lower appetite for risk among crypto traders.
On intraday charts, BTC broke below a month-long uptrend. That means short-term sellers are in control, especially after the breakout level around $45,000 was rejected on Tuesday.
Recent breakdowns on the charts have confirmed negative momentum signals, although pullbacks appear to be limited. For now, the broader recovery from January lows remains intact.
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.
A sluggish Bitcoin price performance has not been the only disappointing theme for the largest…
World Liberty Financial, Trump’s crypto company, is making moves again. It recently bought another $1.4M…
Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR) Strategy (MSTR) could…
Peter Brandt, a seasoned trader, has dismissed optimistic predictions in the wake of Bitcoin’s recent…
This article is part of a four-piece series on El Salvador. You can find the…
It was another volatile trading week in the Bitcoin (BTC) market marked by almost equal…