Categories: Bitcoin Latest News

Bitcoin Steady Near $45K Support; Resistance at $53K

Bitcoin (BTC) is holding steady around $45,000 – a key support level, near the bottom of a month-long price range. Buyers will need to clear $47,000 to yield a short-term upside target toward $53,000 this week.

If support does not hold, a pullback will likely stabilize around $42,000, which is near the Dec. 5 crash low.

For now, the relative strength index (RSI) on the daily chart remains in an oversold range, which typically precedes a short-term price bounce.

Still, the recent decline in upside momentum is a concern. There is strong resistance ahead, which could limit price gains this month.

Read MoreFeedzy

Bitcoin (BTC) is holding steady around $45,000 – a key support level, near the bottom of a month-long price range. Buyers will need to clear $47,000 to yield a short-term upside target toward $53,000 this week.

If support does not hold, a pullback will likely stabilize around $42,000, which is near the Dec. 5 crash low.

For now, the relative strength index (RSI) on the daily chart remains in an oversold range, which typically precedes a short-term price bounce.

Still, the recent decline in upside momentum is a concern. There is strong resistance ahead, which could limit price gains this month.

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.

Trending

1
Jan 5, 2022
2
Jan 5, 2022
3
Jan 5, 2022
4
Jan 5, 2022

Recent Posts

Cboe’s New Cash-Settled Bitcoin ETF Options: Could This Spark A Move Beyond $100,000?

Cboe, the derivatives exchange for digital assets and securities trading, is set to make a…

19 minutes ago

Bitcoin’s MVRV Metric Signals Market Heating Up—Here’s What Investors Should Know

The ongoing Bitcoin bull market has sparked renewed interest in on-chain metrics to fully understand…

5 hours ago

Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000?

The Bitcoin price is well on its way to reaching the $100,000 price mark, with…

14 hours ago

Bitcoin LTHs Start Taking Profits – Metrics Reveal Whales Are Actively Spending

Bitcoin has reached new all-time highs for four consecutive days, hitting $99,500 just hours ago.…

15 hours ago

Bitcoin Going to $140K Says Trio of AIs Managing $30M Investment Fund

Intelligent Alpha’s investment committee is composed of three AIs, and the fund's CEO tries to…

17 hours ago

Jason “Spaceboi” Lowery’s Bitcoin “Thesis” Is Incoherent Gibberish

Jason Lowery’s Softwar “thesis” is a complete joke. It is a mix of incoherent, and…

17 hours ago