Bitcoin (BTC) is stuck in a tight trading range after failing to break through $40K resistance. Lower support at $35K and $37K could stabilize pullbacks into the Asia trading day.Read MoreFeedzy
BTC was trading around $39,000 at press time and is down 6% over the past 24 hours.
The relative strength index (RSI) on the four-hour chart declined from overbought levels, which preceded a pullback in price. On the hourly chart, the RSI is oversold, suggesting brief periods of buying activity could occur.
Still, negative momentum signals on the monthly chart points to limited upside for BTC. The current range could persist until a decisive breakout or breakdown is confirmed.
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