Share this article
Bitcoin Stalls at $57K Resistance, Lower Support Around $53K
“Short-term momentum remains positive, but far less so than in February,” writes one analyst.
Updated Mar 6, 2023, 3:18 p.m. Published Mar 17, 2021, 11:19 a.m.
Bitcoin (BTC) continues to struggle after failing to hold an all-time-high around $60,000 over the weekend. On the hourly chart, resistance is around $57,000 with short-term support around $53,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Traders continue to experience limited upside intraday, with oversold moves capped around the 50-period volume weighted moving average since the March 15 sell-off.
- On the daily chart, bitcoin’s uptrend remains intact, although lower highs on the relative strength index (RSI) indicates slowing momentum.
- “Short-term momentum remains positive, but far less so than in February,” writes Katie Stockton, managing partner of Fairlead Strategies.
From a long-term perspective, the outlook for bitcoin remains constructive, although drawdowns can be sharp and fast during the late stage of a rally, as seen in the chart below. This suggests tighter stops should be used, especially until short-term trend signals improve.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BNB tops $870, outperforming crypto majors as volume surges
Market participants are watching whether BNB can hold above $870 and challenge resistance at $880, with a break higher potentially targeting $900.
What to know:
- BNB rose 2.5% to $872, outperforming the broader market which gained 1.4%.
- The token's action showed higher lows and sustained gains, and increased trading volume.
- Market participants are watching whether BNB can hold above $870 and challenge resistance at $880, with a break higher potentially targeting $900.
Top Stories
