Bitcoin Range-Bound Above $35K-$37K Support; Resistance at $40K
Bitcoin (BTC) remains in a tight trading range, although buyers maintained support above $37,500 over the weekend. Upside appears limited given strong resistance beyond $40K.Read MoreFeedzy
BTC was trading at $38,700 at press time and is roughly flat over the past 24 hours.
The downward sloping 100-day moving average has kept the four-month downtrend intact. Recent sideways trading, however, could result in volatile price swings over the next two weeks.
Buyers will need to hold support above $35,000-$37,000 in order to preserve the long-term uptrend.
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
Will Bitcoin Impede Or Support Altcoin Rally? On-Chain Data Signals Market Uncertainty
According to an on-chain analyst on X, Bitcoin has decoupled from other cryptocurrencies or altcoins,…
Bitcoin Miner Sales Surge To Highest Level Since April – Details
Bitcoin is currently holding above the $115,000 level after setting a new all-time high of…
Satoshi-Era Bitcoin Now For Sale: Galaxy Digital Sends 1,500 BTC To Binance
Bitcoin is currently consolidating between $115,000 and its all-time high of $123,000, forming a tight…
Bitcoin Climbs, But NVT Indicator Sends a Surprising Signal
Bitcoin’s recent price action has continued its upward trajectory, with the asset trading as high…
Bitcoin Sees Long-Term Holders Sell As Short-Term Buyers Step In – Sign Of Rally Exhaustion?
As Bitcoin (BTC) continues to set new all-time highs (ATH) – reaching $123,218 on Binance…
Charles Schwab to Launch Bitcoin Trading, Directly Targeting Coinbase Users
Bitcoin Magazine Charles Schwab to Launch Bitcoin Trading, Directly Targeting Coinbase Users Charles Schwab is…