Bitcoin (BTC) is stabilizing above the $43K support level, although upside appears limited over the short-term. Momentum signals are still negative, especially on the monthly chart. For now, the recovery from Jan. lows remains intact.Read MoreFeedzy
BTC will need to make a decisive move above above $45,000 in order to yield upside price targets, initially toward $50,966. For now, the price recovery from the January low at $32,933 remains intact, especially given the positive momentum reading on the weekly chart.
Still, indicators on the monthly chart suggest upside is limited for BTC over the intermediate term. That means BTC will need to maintain stronger support above $37,560 to keep the three-month uptrend of higher price lows stable. A decisive break below that level could invalidate the recovery phase.
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