Bitcoin (BTC) buyers took some profits below the $33K resistance level. Long-term momentum remains negative, capping upside moves in price. For now, lower support is at $25K-$27K.Read MoreFeedzy
Bitcoin (BTC) pared earlier gains after buyers took some profits below the $33,000 resistance level. The cryptocurrency could find support, initially at $27,500 and then at $25,000.
On the weekly chart, bitcoin appears to be oversold, albeit with negative momentum signals. That suggests upside could be limited beyond $35,000.
For now, BTC is roughly one week away from registering a downside exhaustion signal, which previously occurred on June 7 of last year and on Jan. 10 this year. Still, a weekly close above $30,000 is needed to confirm a bullish short-term signal.
If further breakdowns occur, secondary support is seen at $17,673.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
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.
Bitcoin (BTC) continues to move within its one-week range after recovering from its recent drop…
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…