Share this article
Bitcoin Struggles Near Resistance, Support Around $52K
BTC continues to struggle near resistance and could approach lower support around $52K.
Updated Mar 6, 2023, 3:25 p.m. Published Apr 29, 2021, 11:22 a.m.
Make us preferred on Google
Bitcoin (BTC) continues to stall despite its brief spike toward $56,000 on Wednesday. The cryptocurrency was trading around $54,000 at the time of writing and could approach lower support around $52,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Bitcoin remains in a downtrend on the four-hour chart defined by a series of lower price highs since the April 14 all-time high of around $64,800.
- There is strong resistance from the $60,000 level and around $56,000. The 100-period moving average on the four-hour chart has kept a lid on price movements since the April 17 sell-off.
- The relative strength index (RSI) on the four-hour chart is around neutral territory after reaching overbought levels on Tuesday.
- For now, it appears that buyers are still in profit-taking mode as BTC drifts toward lower support around $52,000. A decisive break above $56,000 is needed to resume the roughly 15% price recovery from the April 25 low.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
