Bitcoin (BTC) continues to trade around a midpoint of $30K. Upside appears limited despite positive momentum on the daily chart.Read MoreFeedzy
BTC was trading around $30,200 at press time and is roughly flat over the past 24 hours and up by 3% over the past week.
The cryptocurrency remains in a tight intraday range, with a midpoint at $30,100. That’s where the most trading volume occurred over the past two weeks. For now, BTC’s price could continue to revert to that midpoint level until a decisive breakout or breakdown is confirmed.
Upside appears to be limited between the $33,000-$35,000 resistance zone, especially as momentum signals remain negative on long-term charts.
Still, momentum remains positive on the daily chart, which could keep short-term buyers active. The 14-day relative strength index (RSI) will need to return above the 50 neutral mark to sustain a recovery bounce in price.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
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.
TL;DR U.S. spot Bitcoin ETFs recorded $324.6 million in net inflows on September 18. Fidelity’s…
"Bitcoin feels like the CD in the age of Spotify, the DVD in the age…
Bitcoin Magazine Bitcoin Community Recognizes Quantum Computing Risk: VanEck Quantum computing is a risk to…
Bitcoin Magazine Bitcoin Price Surges Over $81,000 Despite Clarity Act Fail and Interest Rate Hike…
Bitcoin Magazine The Next 3-5 Years of Bitcoin Lending SALT Lending CRO Hunter Albright says…
Bitcoin is down just 1.5% in its historically weakest month and remains on track for…