Share this article
Bitcoin Holds Support at $45K; Faces Resistance at $50K
Buyers will likely remain active on pullbacks into the weekend.
Updated Mar 6, 2023, 3:41 p.m. Published Aug 20, 2021, 11:17 a.m.
Make us preferred on Google
Bitcoin (BTC) rose about 6% over the past 24 hours as buyers defended support at the 200-day moving average around $45,000. The cryptocurrency was trading around $47,200 at press time and faces initial resistance near $50,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The breakout above $42,000 earlier this month stalled as short-term overbought conditions appeared on the charts. Buyers will likely remain active on pullbacks into the weekend.
- The relative strength index (RSI) on the daily chart is declining from overbought levels. The slight divergence between RSI and bitcoin’s price preceded a brief pullback towards the $42,000 breakout level.
- The weekly RSI is neutral, although momentum has significantly improved over the past two months.
- Initial signs of upside exhaustion appeared on the charts last week, which is typically seen as warning sign for higher volatility.
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.
Plus pour vous
Bitcoin and ether volatility trading gets easier with Polymarket's new contracts
Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices.
Ce qu'il:
- Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices, allowing users to bet on how high volatility will get in 2026.
- The contracts pay out if volatility indices reach or exceed a preset level by Dec. 31, 2026, letting traders wager on the intensity of price swings rather than market direction.
- Early trading implies roughly a one-in-three chance that bitcoin and ether volatility will nearly double from current levels.
Top Stories
