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.
Despite heightened expectations for the Bitcoin price to hit the $100,000 milestone, a crypto analyst…
The price of Bitcoin picked up this week from where it left off in the…
A crypto analyst who accurately forecasted the Bitcoin price increase to the $99,000 All-Time High…
On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two…
Cboe, the derivatives exchange for digital assets and securities trading, is set to make a…
The ongoing Bitcoin bull market has sparked renewed interest in on-chain metrics to fully understand…