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Bitcoin Holds Support; $60K Resistance Within Reach
BTC is attempting to break above a series of lower price highs since April 1, which suggests buyers are gaining strength as sellers retreat.
Updated Mar 6, 2023, 2:54 p.m. Published Apr 9, 2021, 11:26 a.m. 1 min read
Buyers defended support around $55,000 this week, with bitcoin (BTC) currently trading around $58,500. There is strong resistance around $60,000, which has been tested multiple times since March.
- The oversold reading on the four-hour relative strength index (RSI) on April 7 preceded a near 5% rise in BTC. The last oversold reading on March 25 preceded a near 19% price rally.
- BTC is attempting to break above a series of lower price highs since April 1, which suggests buyers are gaining strength as sellers retreat.
- Intraday support is around $56,934. The four-hour RSI is not yet overbought, which indicates further upside over the short term.
- However, BTC’s uptrend on daily and weekly charts is slowing. A decisive break above $60,000 is needed to support the long-term uptrend. For now, traders have adhered to narrow price zones with lower volume as BTC consolidates.
あなたへの
A massive selloff in a SpaceX crypto token wiped out hundreds of retail traders in 30 minutes because the market lacked enough cash to absorb the shock.
知っておくべきこと:
- A violent 45% flash crash wiped out hundreds of retail traders when a SpaceX-linked crypto contract plummeted in just 30 minutes, wiping out $1.51 million in value and catching small-time investors completely off guard.
- The market was too thin to handle one massive trade because the token lacked deep financial...
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