Share this article
Bitcoin Breaks Above $46K, Resistance at $48K-$51K
Momentum turned positive for the first time since July, although a significant price rally could be delayed.
Updated May 11, 2023, 3:35 p.m. Published Mar 28, 2022, 5:58 p.m.
Make us preferred on Google
Bitcoin (BTC) buying activity accelerated over the weekend as momentum signals turned positive.
The cryptocurrency broke above initial resistance at $46,000, although stronger resistance at the 200-day moving average, which is now at $48,289, could stall the relief rally.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
BTC was trading at around $47,500 at press time and is up 5% over the past 24 hours.
The relative strength index (RSI) on the daily chart is approaching overbought territory, similar to what occurred last October, which preceded a sell-off. This time, however, buyers appear to be targeting a 50% reversal of the four-month-long downtrend, which would yield additional upside toward $50,966.
Momentum signals on the weekly chart have significantly improved, which was previously seen at around the July low of $29,400. Still, momentum remains negative on the monthly chart, which could delay a significant price rally in the short term.
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
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
