Share this article
Bitcoin Struggles Near Resistance; Support at $53K
Long-term momentum is starting to fade, which could limit price gains this month.
Updated May 11, 2023, 4:27 p.m. Published Dec 2, 2021, 7:12 p.m.
Bitcoin continues to stabilize above the $53,000 support level after last month’s decline.
There appears to be a stalemate, however, between buyers and sellers because the cryptocurrency is roughly flat over the past 24 hours. Resistance is seen around $60,000, which has capped upside moves over the past week.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
BTC was trading around $56,000 at press time and is down about 4% over the past week.
The short-term downtrend in BTC is defined by a series of lower price highs since Nov. 10, as seen in the chart above. Recently, oversold signals appeared on the charts, which could encourage short-term buying from the $53,00 support level. A decisive break above $60,000 would reverse the short-term downtrend.
Still, there is strong overhead resistance between $60,000 and $65,000, which could limit price gains this month.
More For You
What to know:
- 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
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
