Bitcoin (BTC) is rangebound with support at $35K-$37K. The loss of upside momentum over the weekend suggests limited upside given strong resistance around $45K.Read MoreFeedzy
Bitcoin (BTC) traded lower over the weekend after buyers were unable to break above the $40,000 price level. Immediate support is at $37,000, which could stabilize the pullback, although stronger support is seen at $35,000.
The cryptocurrency continues to trade in a tight price range and is down 2% over the past 24 hours to about $38,000.
Upside momentum is slowing on the daily chart, which points to further consolidation around the current price. Resistance is seen at $45,000.
The relative strength index (RSI) on the four-hour chart is rising from oversold levels, similar to what occurred during the last week of February, which preceded a price jump. Still, the RSI can remain in oversold territory for a few days before confirming an upswing (typically with a reading above 50).
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.
Strategy (MSTR) reported a fourth-quarter net loss of $3.03 per share, compared to income of…
The world's largest asset management firm with more than $10 trillion in AUM, Blackrock (BLK)…
In an escalation of global economic friction, President Trump’s imposed tariffs have roiled financial markets…
Founder: Prashanth Chandrashekar Date Founded: March 2023 Location of Headquarters: Lithuania Number of Employees: 3…
BlackRock Inc., the world’s largest asset manager with over $11.5 trillion in assets under management,…
For decades, corporate treasuries have relied on cash, bonds and short-term investments to preserve capital.…