Share this article
Bitcoin Upside Fades, Lower Support at $34K
BTC faces slowing momentum as buyers struggle at resistance.
Updated Mar 6, 2023, 3:40 p.m. Published Jun 16, 2021, 11:18 a.m.
Bitcoin (BTC) has traded sideways over the past two days as buyers face resistance at $40,000. Slowing momentum on intraday charts suggests an initial pullback toward $38,000, although stronger support is seen at $34,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin was trading at around $39,200 at press time and is up about 7% over the past seven days.
- The relative strength index (RSI) on the hourly chart registered a series of lower highs over the past few days. That reflects slowing momentum behind the latest price jump.
- For now, the 100-period moving average on the hourly chart is sloping upward, which indicates an improving short-term trend. Buyers will need to defend support above $34,000 in order to maintain a period of stabilization after May’s sell-off.
- Further upside appears to be limited as intraday charts shake off overbought conditions. The daily chart is still in recovery mode with minor signs of downside exhaustion.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Más para ti
Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
Lo que debes saber:
- Citigroup's base case for bitcoin (BTC) is a rise to $143,000 in 12 months.
- Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
Top Stories
