Bitcoin (BTC) continues to hold support above $40,000 as momentum improves on intraday charts.The cryptocurrency is down about 4% over the past week, although multiple oversold readings suggest buyers could remain active into the Asia trading day. As of press time Wednesday, bitcoin was changing hands at $41,822.Still, upside appears to be limited toward the $43,000-$45,000 … [Read more...] about Bitcoin Holding Support Above $40K; Faces Resistance at $43K-$45K
Resistance
Bitcoin Stalls Near Resistance; Support Around $40K-$42K
The relative strength index (RSI) on the four-hour chart declined near overbought levels, similar to what occurred in late December, which preceded a pullback in price. Buyers will likely remain on the sidelines until oversold conditions materialize, most likely over the next few days. Source link … [Read more...] about Bitcoin Stalls Near Resistance; Support Around $40K-$42K
Bitcoin Holding Support Above $42K; Resistance at $45K-$47K
Bitcoin (BTC) buyers are attempting to reverse a two month-long downtrend. The cryptocurrency declined by roughly 30% from an all-time high near $69,000 in November, and now technical indicators suggest the sell-off is starting to stabilize.BTC was trading around $43,000 at the time of writing, and is up about 3% over the past week.Support is seen around the $40,000 price … [Read more...] about Bitcoin Holding Support Above $42K; Resistance at $45K-$47K
Bitcoin Rises Above $43K; Resistance at $45K-$48K
Bitcoin (BTC) buyers held support around $40,000 as oversold signals appeared on the charts. The recent bounce suggests the cryptocurrency is starting to recover after a near-30% decline from its all-time high around $69,000 in November.The relative strength index (RSI) on the four-hour chart is approaching overbought levels, similar to what occurred in late-December, which … [Read more...] about Bitcoin Rises Above $43K; Resistance at $45K-$48K
Bitcoin Rises from Oversold Levels; Faces Resistance Near $45K
BTC is the most oversold since Dec. 10, according to the relative strength index (RSI) on the daily chart. Typically, oversold readings precede price recoveries, similar to what occurred in late-September. This time, however, price reaction to the RSI and other indicators has been delayed. Source link … [Read more...] about Bitcoin Rises from Oversold Levels; Faces Resistance Near $45K