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Bitcoin Drifts Lower; Support Around $54K-$55K
Bitcoin buyers and sellers are in a stalemate as oversold rallies have been limited on intraday charts.
Updated Mar 6, 2023, 3:00 p.m. Published Apr 8, 2021, 11:20 a.m. 1 min read
Bitcoin (BTC) is trading lower as oversold moves on the hourly chart have been limited to the 50-hour volume weighted moving average. Buyers have continued to take profits after another failed attempt to move beyond $60,000 on April 1.
- BTC remains rangebound with lower support between $54,0000 and $55,000. Currently around $56,700.
- Buyers will need to defend support to maintain the uptrend on the daily chart, which continues to show slowing upside momentum.
- Technical signals are broadly neutral over the short term and will require a decisive breakout above $60,000 or below $50,000 to derive price targets. For now, buyers and sellers are in a stalemate, responding well to intraday support and resistance levels.
- On the hourly chart, BTC has retraced about 50% of its rally from March 25 and is down about 5% for the month to date.
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"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.
알아야 할 것:
- 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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