Share this article
BTC
$104,800.46
+
1.65%ETH
$2,496.71
-
3.16%USDT
$1.0006
+
0.04%XRP
$2.1743
+
0.25%BNB
$644.80
-
0.95%SOL
$149.07
-
0.38%USDC
$0.9997
-
0.02%DOGE
$0.1796
+
0.14%TRX
$0.2774
+
1.53%ADA
$0.6628
+
0.17%HYPE
$34.27
-
0.02%SUI
$3.1679
+
3.00%LINK
$13.46
-
0.84%LEO
$8.9756
+
3.86%AVAX
$19.49
-
1.25%XLM
$0.2633
+
0.34%BCH
$394.87
-
1.45%TON
$3.1383
-
2.07%SHIB
$0.0₄1249
-
1.12%HBAR
$0.1643
-
0.69%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Approaching Resistance Near $58K; Support at $50K
Momentum has improved over the past two weeks.
Bitcoin’s (BTC) price continues to rise, now near $56,000, although the rally appears to be exhausted given overbought signals on the charts. The cryptocurrency is up about 14% over the past week and faces resistance between $58,000 and $60,000.
- The relative strength index (RSI) on the four-hour chart is declining from an overbought extreme last week. A negative divergence between the RSI and price typically leads to a brief pullback similar to what occurred in mid-September.
- The RSI on the daily chart is approaching overbought levels, suggesting buyers could exit positions near upper resistance levels.
- Momentum has improved over the past two weeks, which means pullbacks could be limited toward initial support at $50,000.
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.
Главное
