Diesen Artikel teilen
Bitcoin Pullback Deepens, Support at $37K
BTC's current pullback is similar to what occurred in September of last year, albeit with weak price momentum.
Von Damanick Dantes
Aktualisiert 11. Mai 2023, 4:50 p.m. Veröffentlicht 26. Apr. 2022, 5:57 p.m. 1 min readÜbersetzt von KI
Bitcoin (BTC) extended its decline on Tuesday, although support at $37,500 could stabilize the down move.
The cryptocurrency is attempting to maintain a series of higher price lows since Jan. 24, which typically coincides with rising price momentum. This time, however, a bearish setup on the monthly chart could increase the risk of a breakdown in price.
Buyers will need to keep BTC elevated above $40,000, the midpoint of a three-month price range, in order to sustain the current recovery phase.
BTC's current pullback is similar to what occurred in September of last year, when buyers began to take profits around the $46,000-$50,000 resistance zone. Still, unlike the current situation, last year's rally above $40,000 benefited from positive long-term momentum.
For now, BTC's wide trading range could continue for another week until a decisive breakout or breakdown is confirmed.
Mehr für Sie
Hyperliquid’s surge and renewed interest in AI-focused crypto projects are signaling a broader return of risk appetite in altcoins, says Michael van de Poppe.
Top Stories
