Bitcoin (BTC) is trading in a tight range between $43K and $44K on Wednesday. The cryptocurrency could find short-term support at $40K, although upside momentum is starting to wane on intraday charts.Read MoreFeedzy
Bitcoin (BTC) was trading in a tight range between $43,000 and $44,000 over the past 24 hours. Support is nearby, which could limit pullbacks over the short term.
Buyers will need to maintain a price floor above $40,000 to sustain the uptrend from $36,000 that occurred on Feb. 3. Intraday charts appear overbought, however, which could stall the upside, similar to what occurred last week.
For now, the 50-day moving average on the four-hour chart has flattened, indicating a pause in upside momentum. Resistance remains at $46,000, and if buyers fail to maintain current levels, a dip toward $35,000 seems likely.
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.
The real estate investor pitched his model as a treasury company backed by cash-flowing property…
Strategy’s paper loss exceeds the market caps of hundreds of tokens, highlighting the extreme concentration…
BTC sees a relief bounce as Asian stocks wilt following sharp losses on Wall Street.Read…
Institutional Bitcoin demand is showing fresh signs of fatigue, with K33 Research reportedly flagging a…
Bitcoin Magazine Trezor Academy Releases Documentary on Africa’s Bitcoin Economy, Opens Education Donations While Western…
Bitcoin Magazine Matt Corallo Urges Bitcoin Projects to Exit GitHub After Rust Lightning Ban GitHub…