Share this article
Bitcoin Holds Support at $45K; Faces Resistance at $50K
Buyers will likely remain active on pullbacks into the weekend.
Updated Mar 6, 2023, 3:41 p.m. Published Aug 20, 2021, 11:17 a.m.
Bitcoin (BTC) rose about 6% over the past 24 hours as buyers defended support at the 200-day moving average around $45,000. The cryptocurrency was trading around $47,200 at press time and faces initial resistance near $50,000.
STORY CONTINUES BELOW
The breakout above $42,000 earlier this month stalled as short-term overbought conditions appeared on the charts. Buyers will likely remain active on pullbacks into the weekend.
- The relative strength index (RSI) on the daily chart is declining from overbought levels. The slight divergence between RSI and bitcoin’s price preceded a brief pullback towards the $42,000 breakout level.
- The weekly RSI is neutral, although momentum has significantly improved over the past two months.
- Initial signs of upside exhaustion appeared on the charts last week, which is typically seen as warning sign for higher volatility.
More For You
需要了解的:
- 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
Altcoins plunge as bitcoin's $85,000 test triggers $550 million in liquidations
Solana tumbled below $120 to its weakest price since April, while SUI, DOGE and ADA also fell sharply.
What to know:
- Bitcoin is teetering on the brink of falling below $85,000 level, accelerating declines in the crypto market.
- Altcoins such as SOL, Cardano, ADA, SUI and dogecoin led Thursday's drop.
- $550M in liquidations hit derivatives markets, but analysts said the pullback looks like orderly deleveraging rather than full-blown panic.
Top Stories
