Bitcoin Rangebound Near $50K Resistance; Support at $40K
BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
Bitcoin (BTC) is stuck in a sideways range as the short-squeeze rally takes a breather. Buyers could start to take profits ahead of the $50,000 resistance level, although support around $40,000-$42,000 could stabilize a pullback.
The world’s largest cryptocurrency by market value was trading around $46,900 at press time and is roughly flat over the past week.
- The relative strength index (RSI) on the daily chart is declining from overbought levels, which typically precede price pullbacks. The RSI has a slight negative divergence with price as upside momentum wanes.
- Bitcoin is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
- Support is seen around the top of the prior two-month consolidation phase between $40,000 and $42,000. A successful re-test of these levels could yield further upside towards $50,000 and $55,000.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
