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Bitcoin Struggles Within Choppy Range, Could Stabilize at $30K
Upside appears to be limited.
Bitcoin (BTC) remains in a tight range after buyers took profits at the $34,000 resistance level. The cryptocurrency registered a series of lower price highs over the past few days, which suggests sellers are in control. The price decline could stabilize heading into the weekend at around $30,000 support.
Bitcoin was trading at about $32,000 at press time and is down about 2% over the past week.
- Resistance is seen at the 50-day moving average, which signaled an intermediate-term downtrend since the May sell-off.
- The relative strength index (RSI) is neutral after rising from oversold levels over the past month. That suggests the price could stabilize within the current range with support at $30,000.
- Momentum is slowing, however, and the weekly RSI is not yet oversold. There is risk that a break below $30,000 could resume the downtrend since April.
- For now, buyers could remain active at short-term support, albeit with limited upside given the strong overhead resistance.
Higit pang Para sa Iyo
"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.
Ano ang dapat malaman:
- 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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