Bitcoin (BTC) is stuck in a tight trading range after failing to break through $40K resistance. Lower support at $35K and $37K could stabilize pullbacks into the Asia trading day.Read MoreFeedzy
Bitcoin (BTC) turned lower after approaching resistance near $40,000. The cryptocurrency remains in a tight trading range, although support between $35,000 and $37,000 could stabilize pullbacks into the Asia trading day.
BTC was trading around $39,000 at press time and is down 6% over the past 24 hours.
The relative strength index (RSI) on the four-hour chart declined from overbought levels, which preceded a pullback in price. On the hourly chart, the RSI is oversold, suggesting brief periods of buying activity could occur.
Still, negative momentum signals on the monthly chart points to limited upside for BTC. The current range could persist until a decisive breakout or breakdown is confirmed.
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.
Yes, you read the title correctly, and it does appears contradictory. As bitcoin (BTC) nears…
Bitcoin (BTC) pared last week’s gains with a price drop from $98,500 to as low…
Howard Lutnick, chairman of Wall Street trading firm Cantor Fitzgerald, is in discussions with Tether's…
MicroStrategy's (MSTR) bitcoin (BTC) treasury model is unparalleled and the company is expected to attract…
The crypto market should see a pick up in volatility at the end of this…
Bitcoin Development Company MicroStrategy (MSTR) added 55,500 of the largest cryptocurrency for $5.4 billion, bringing…