Bitcoin Holding Support Above $37K; Resistance at $45K
Bitcoin (BTC) experienced a minor price jump after oversold signals appeared on intraday charts. Resistance is nearby around $45K, which could keep price within range.Read MoreFeedzy
The relative strength index (RSI) on the four-hour chart is rising from oversold levels despite the recent downtrend in price. That could signal bullish activity toward the $45,000 resistance zone.
Still, BTC has remained in a tight trading range around the $40,000 price level over the past few months. A positive momentum signal on the daily chart is needed in order to signal a price recovery outside of the current trading range.
On the weekly chart, BTC is holding long-term support above its 100-week moving average at $35,700. Positive momentum readings remain intact over the intermediate term, albeit with bearish signals on the monthly chart.
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.
Recent Posts
Bitcoin Hits New Heights: Analyst Predicts Next Peak By Late 2025
As Bitcoin (BTC) continues to capture investor enthusiasm, recently reaching a new all-time high of…
Crypto Daybook Americas: Bitcoin Dominance Tops 64% While Options Indicate Bullish Tilt
By James Van Straten (All times ET unless indicated otherwise) Since May 22, bitcoin (BTC)…
GameStop Purchases Over $500M Worth of Bitcoin
Video game retailer GameStop (GME) has purchased 4,710 bitcoin, worth nearly $513 million at the…
Ether Favored Over Bitcoin by Big Money, Here Are 3 Clues That Point to ETH Bias in Crypto Market
The futures and options market, a proxy for big money, is increasingly backing ether ETH…
Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock
US Treasury Secretary Scott Bessent has signalled that the long-debated overhaul of banks’ supplementary leverage…
GameStop Buys $513 Million Worth of Bitcoin
Bitcoin Magazine GameStop Buys $513 Million Worth of Bitcoin Video game retailer GameStop has purchased…