Bitcoin (BTC) is testing an important support zone, although upside appears limited, especially on long-term charts. Momentum continues to slow, which increases the risk of a breakdown.Read MoreFeedzy
BTC was trading at around $29,000 at press time and is down by 3% over the past 24 hours.
A decisive break below $27,000 could yield further downside targets for BTC, initially toward $17,823. Further, BTC’s downward sloping 50-day moving average indicates persistent trend weakness, which could keep sellers active.
Bitcoin faces strong resistance at between $33,000 and $36,000, which could stall an upswing in price. And on the weekly chart, momentum remains negative despite oversold readings. That could increase the risk of a breakdown in price, similar to what occurred in March 2020 and November 2018.
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.
Your day-ahead look for Dec. 12, 2025Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin remains trapped in a range despite the U.S. rate cut, while altcoins and memecoins…
The Federal Reserve begins Treasury bill purchases later Friday, starting with $8.2 billion as part…
Crypto pundit NoLimit has explained why the Bitcoin, Ethereum, and Dogecoin prices have been dumping…
Bitcoin Magazine What is a Bitcoin Treasury Company? Bitcoin is no longer just a grassroots…
BTC continues to bore traders with its directionless price action. But some indicators are pointing…