Bitcoin (BTC) is stabilizing after a 3% price drop, although the cryptocurrency is stuck in an intraday trading range. Overbought signals could keep some buyers on the sidelines.Read MoreFeedzy
Bitcoin (BTC) is stabilizing after a 3% price drop during the New York trading day.
The cryptocurrency has failed to break above resistance at $47,000 over the past few days, which indicates a loss of upside momentum. Still, lower support around $43,000 and $45,000 could stabilize the pullback.
BTC was trading around $46,000 at press time and is down 3% over the past week.
Momentum signals remain negative on the daily chart, similar to what occurred in early February. This time, however, bitcoin has broken above $43,000 with positive momentum on the weekly chart. That means buyers could remain active on pullbacks.
The relative strength index (RSI) on the daily chart is declining from overbought levels, similar to what occurred in October of last year. Still, overbought signals can persist for a few months before a significant downturn in price.
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.
Crypto analyst Javon Marks has provided a bullish outlook for the XRP price, predicting that…
Bitcoin Magazine Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts The bitcoin price fell…
The U.S. dollar, along with precious metals and bond yields, is reacting as expected to…
New fund enables Save the Children to hold bitcoin, pilot digital wallets, and speed up…
Your day-ahead look for Dec. 11, 2025Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
A recent post by crypto analyst Stockmoney Lizards on X suggests that the current Bitcoin…