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Bitcoin Rangebound Near $50K Resistance; Support at $40K
BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
Updated Mar 6, 2023, 3:34 p.m. Published Aug 17, 2021, 11:11 a.m. 1 min read
Bitcoin (BTC) is stuck in a sideways range as the short-squeeze rally takes a breather. Buyers could start to take profits ahead of the $50,000 resistance level, although support around $40,000-$42,000 could stabilize a pullback.
The world’s largest cryptocurrency by market value was trading around $46,900 at press time and is roughly flat over the past week.
- The relative strength index (RSI) on the daily chart is declining from overbought levels, which typically precede price pullbacks. The RSI has a slight negative divergence with price as upside momentum wanes.
- Bitcoin is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
- Support is seen around the top of the prior two-month consolidation phase between $40,000 and $42,000. A successful re-test of these levels could yield further upside towards $50,000 and $55,000.
Lebih untuk Anda
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote President Trump late Saturday afternoon.
Yang perlu diketahui:
- Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.
- As part of the deal, Trump said, the Strait of Hormuz will be reopened.
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