Share this article
BTC
$76,295.67
-
3.60%ETH
$1,470.32
-
5.31%USDT
$0.9991
-
0.04%XRP
$1.7921
-
5.92%BNB
$553.16
-
0.16%USDC
$1.0001
-
0.01%SOL
$105.55
-
1.44%TRX
$0.2303
+
0.70%DOGE
$0.1417
-
5.35%ADA
$0.5571
-
5.03%LEO
$8.9975
+
0.57%TON
$2.9808
-
4.05%LINK
$10.89
-
4.98%XLM
$0.2205
-
5.10%AVAX
$16.10
-
3.62%SHIB
$0.0₄1063
-
6.98%SUI
$1.9280
-
4.45%HBAR
$0.1456
-
4.51%OM
$6.2029
-
1.11%BCH
$268.80
-
2.36%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 Struggles Near Resistance, Support Around $52K
BTC continues to struggle near resistance and could approach lower support around $52K.
Bitcoin (BTC) continues to stall despite its brief spike toward $56,000 on Wednesday. The cryptocurrency was trading around $54,000 at the time of writing and could approach lower support around $52,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Bitcoin remains in a downtrend on the four-hour chart defined by a series of lower price highs since the April 14 all-time high of around $64,800.
- There is strong resistance from the $60,000 level and around $56,000. The 100-period moving average on the four-hour chart has kept a lid on price movements since the April 17 sell-off.
- The relative strength index (RSI) on the four-hour chart is around neutral territory after reaching overbought levels on Tuesday.
- For now, it appears that buyers are still in profit-taking mode as BTC drifts toward lower support around $52,000. A decisive break above $56,000 is needed to resume the roughly 15% price recovery from the April 25 low.
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.
