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Bitcoin Drifts Lower, Stuck Between $40K Support and $45K Resistance
BTC appears oversold into the Asian trading day, but upside remains limited.
Por Damanick Dantes
Actualizado 11 may 2023, 3:39 p. .m.. Publicado 18 ene 2022, 7:53 p. .m.. 1 min readTraducido por IA
Bitcoin (BTC) has traded in a sideways range over the past week, although buyers continued to hold support at around $40,000. The next level of resistance is between $43,000 and $45,000, which could limit short-term price gains.
BTC is roughly flat over the past 24 hours, as most technical indicators remain neutral heading into the Asian trading day.
The relative strength index (RSI) on the four-hour chart is the most oversold since Jan. 7, which preceded a 10% price bounce. In a downtrend, however, price reaction to oversold readings could be delayed by a few days.
For now, sellers remain in control as long-term momentum signals weaken.
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