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Bitcoin Stabilizes in Tight Trading Range, Resistance at $33K
BTC continues to trade around a midpoint of $30,000 as indicators remain neutral.
Updated May 11, 2023, 6:06 p.m. Published Jun 2, 2022, 5:47 p.m. 1 min read
Bitcoin (BTC) held initial support near $29,300, which was where an upswing in price originated over the past weekend.
BTC was trading around $30,200 at press time and is roughly flat over the past 24 hours and up by 3% over the past week.
The cryptocurrency remains in a tight intraday range, with a midpoint at $30,100. That's where the most trading volume occurred over the past two weeks. For now, BTC's price could continue to revert to that midpoint level until a decisive breakout or breakdown is confirmed.
Upside appears to be limited between the $33,000-$35,000 resistance zone, especially as momentum signals remain negative on long-term charts.
Still, momentum remains positive on the daily chart, which could keep short-term buyers active. The 14-day relative strength index (RSI) will need to return above the 50 neutral mark to sustain a recovery bounce in price.
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The Wall Street investment bank expects a wave of crypto and blockchain public listings over the next two years as institutional investors shift their focus from speculative trading to real-world financial infrastructure.
Ano ang dapat malaman:
- Jefferies expects a surge of crypto and blockchain-related public listings over the next two years, projecting the sector could become a $1 trillion public market within five years.
- Institutional investors are shifting focus from bitcoin price speculation to the integration of blockchain infrastructure into core financial systems, including tokenized money...
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