Bitcoin Upside Stalls, Could Find Support Near $30K-$33K
Bitcoin was unable to sustain a series of higher price lows over the past few days.
Jun 30, 2021 at 11:33 a.m. UTCUpdated Mar 2, 2023 at 8:25 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/ZLMLJE676NF47G6XQIDWK42QFY.png)
Bitcoin (BTC) stalled near $36,000 resistance during Asia hours and could face further downside towards the $30,000-$33,000 support zone. The cryptocurrency was trading around $34,000 at press time and is down about 2% over the past 24 hours.
STORY CONTINUES BELOW
- The relative strength index (RSI) reached overbought levels on the four-hour chart on Tuesday, which could keep sellers active over the short term.
- Bitcoin was unable to sustain a series of higher price lows over the past few days. This means a period of consolidation could persist as selling pressure stabilizes from May.
- Initial support is seen at the 50-period moving average on the four-hour chart at $33,000. Although, buyers could find more attractive entry levels near $30,000 once oversold conditions appear on the chart.
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)