Share this article
Bitcoin Holds $30K Support After Volatile Shakeout; Resistance at $36K
BTC is up 9% over the past 24 hours.
Updated Mar 6, 2023, 3:32 p.m. Published Jun 23, 2021, 11:20 a.m.
Bitcoin (BTC) returned above the $30,000 level on Tuesday after a volatile trading session. Buyers quickly stepped in as oversold conditions appeared on intraday charts. The next level of resistance is seen around $36,000, which could limit further upside.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The world’s largest cryptocurrency by market value was trading around $34,000 at press time and is up 9% over the past 24 hours.
- The near-10% price drop on Tuesday was typical of a shakeout, which signals a period of market turmoil when sellers capitulate.
- Bitcoin’s two-month downtrend appears exhausted after the relative strength index (RSI) on the daily chart registered a higher low. This means buyers could remain active towards upper resistance levels.
- The RSI on the four-hour chart is not yet overbought, although bitcoin is still below the 100-period moving average, suggesting resistance could be found at $36,000.
- Stronger resistance is seen at $40,000 which is near the upper bound of a month-long range.
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.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
