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Bitcoin Struggles at $60K Resistance; Support Above $53K

Short-term downside is likely into the Asia trading day.

Автор Damanick Dantes
Обновлено 11 мая 2023 г., 6:33 p.m. Опубликовано 22 нояб. 2021 г., 7:02 p.m. 1 min readПереведено ИИ
Bitcoin four-hour price chart shows short-term resistance levels with RSI in second panel. (Damanick Dantes/CoinDesk, TradingView)

Bitcoin buyers remained active over the weekend, although upside was limited around the $60,000 resistance level.

The cryptocurrency continues to consolidate, with pullbacks limited toward $53,000 support.

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Intraday chart signals are neutral, suggesting the current loss of momentum could continue into the Asian trading session. Buyers will need to defend immediate support around $55,000 and decisively break above the short-term downtrend in order to yield further upside targets.

The relative strength index (RSI) on the daily chart is approaching oversold levels, which could support a price recovery similar to what took place in late September. However, previous failed attempts at sustaining an all-time price high near $69,000 is a concern.

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O que saber:

  • Ether has fallen below $2,000 for the first time since March amid rising risk aversion, with losses of nearly 8% over the past week.
  • Open interest in ether futures has hit a record high even as prices drop, a combination that suggests aggressive leveraged selling and a bearish market tilt.