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Bitcoin Dips From $48K Resistance; Support at $43K
BTC is declining from overbought levels.
Updated May 11, 2023, 6:15 p.m. Published Mar 31, 2022, 6:48 p.m. 1 min read
Bitcoin (BTC) is in pullback mode after sellers responded to resistance at $48,000. The cryptocurrency could find support at $43,000 into the Asia trading day, which could stabilize the down move.
BTC was trading around $45,800 at press time and is down 3% over the past 24 hours.
The relative strength index (RSI) on the daily chart is declining from overbought levels, which typically precede pullbacks in price. On the weekly chart, however, the RSI is neutral with positive momentum readings. That means buyers could remain active at lower support levels.
Still, BTC is attempting to break below a two-week long uptrend, similar to what occurred in early February, which preceded a brief price drop.
For now, buyers will need to maintain the breakout above $45,000 to yield an upside target toward $50,966.
Sizin için daha fazlası
The creator of the Mayer Multiple argues bitcoin’s growing economic substance is compressing volatility and attracting deeper capital.
Bilinmesi gerekenler:
- Bitcoin volatility has dropped from around 120 in 2017 to 35 as institutional participation and options markets add stability to the asset.
- Mayer believes lower volatility makes bitcoin more investable for corporations, family offices, and institutional investors.
- Despite long-term concerns around miner security incentives and quantum computing, Mayer remains bullish...
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