Share this article
BTC
$95,341.13
+
1.83%ETH
$1,801.47
+
2.10%USDT
$1.0009
+
0.03%XRP
$2.1962
-
0.55%BNB
$605.02
+
0.95%SOL
$151.49
-
0.12%USDC
$0.9998
-
0.00%DOGE
$0.1817
+
0.33%ADA
$0.7174
-
1.55%TRX
$0.2431
-
1.39%SUI
$3.5989
+
9.05%LINK
$15.05
+
0.65%AVAX
$22.32
+
0.33%XLM
$0.2846
+
1.84%HBAR
$0.1959
+
4.57%SHIB
$0.0₄1389
+
2.39%LEO
$8.8411
-
4.24%TON
$3.2375
+
2.14%BCH
$375.70
+
6.79%LTC
$86.61
+
3.79%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Battles Resistance Near All-Time High as Possible 'Double Top' Looms: Technical Analysis
For now, BTC’s uptrend remains intact.
Bitcoin (BTC) is holding support above its 50-day volume weighted moving average, but the cryptocurrency faces resistance around $58,000. Upside momentum is slowing, with initial support around $52,000 on the 4-hour chart.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- For now, BTC’s uptrend remains intact as buyers on March 8 pushed prices above the $50,000 level for the second time since February, and bitcoin has moved this week back toward its all-time-high around $58,000.
- Momentum, defined by the relative strength index (RSI), is slowing on both intraday charts and the daily chart, diverging from BTC’s price uptrend.
- Traders are on watch for a breakout to fresh all-time highs, but there is concern about a double top forming, which could lead to profit taking.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
