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Bitcoin Holds Support Around $53K; Resistance Zone Within Reach
For now, the high-volume sell-off on April 17 suggests capitulation as buyers were quick to defend the price low just above $51,000.
Автор Damanick Dantes
Bitcoin (BTC) held short-term support around $53,000 and is now approaching resistance around $58,000-$59,000. Buyers are entering after a near 15% sell-off triggered oversold readings during the weekend. The cryptocurrency was trading around $56,000 at press time.
- For now, the high-volume sell-off on April 17 suggests capitulation as buyers were quick to defend the price low just above $51,000.
- The drawdown (percentage decline from peak to trough) of the April 17 sell-off was the worst since March 25, but not as extreme as in January.
- Resistance is now seen around the 200-day moving average on the hourly chart, which could limit upside over the short term.
- BTC is attempting to break above a series of price lows from April 17, which suggests support around $53,000 will hold over the short term.
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The S&P 500 posted its longest weekly winning streak since 2023 and Brent oil stabilized near $92 on US-Iran ceasefire hopes. The biggest cryptocurrencies still drifted lower, with Hyperliquid's HYPE the only major name to rally.
Що варто знати:
- U.S. stocks and oil rallied, with the S&P 500 logging a ninth straight weekly gain and Brent crude hovering near $92 a barrel on hopes for a U.S.-Iran ceasefire extension.
- Major cryptocurrencies lagged the macro rally, with bitcoin, ether and other large-cap tokens falling around 2% to 6% amid cooling...
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