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Bitcoin Stuck Below $40K, Eyes Short-Term Oversold Bounce

Bitcoin buyers could maintain support above $36K.

By Damanick Dantes
Updated Mar 6, 2023, 3:41 p.m. Published Aug 4, 2021, 11:31 a.m.
Bitcoin hourly chart

Bitcoin (BTC) buyers continue to struggle below $40,000 resistance as the short-squeeze rally fades. The cryptocurrency was trading at around $38,000 at press time and is down 4% over the past week. Short-term oversold signals suggest the pullback could stabilize above $36,000 support.

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  • The relative strength index (RSI) is rising from oversold levels on the hourly chart, which could encourage short-term buying.
  • Upside appears to be limited toward $40,000 resistance as bitcoin remains in a consolidation phase.
  • The daily RSI is declining from overbought levels with slowing momentum, although support could hold above $34,000 to $36,000.
BitcoinBitcoin PriceTechnical Analysiscryptocurrencies

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Higit pang Para sa Iyo

DOT Sinks 2% After Breaking Key Support

Ni CD Analytics, Will Canny|Edited by Oliver Knight
9 oras ang nakalipas
"Polkadot price chart showing a 2.5% drop from $2.02 to $1.97 with increased trading volume."

The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.

Ano ang dapat malaman:

  • DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
  • The token broke decisively below the support level to trade 2% lower over the last 24 hours.

Basahin ang buong kwento