Share this article
Bitcoin Stalls at Resistance; Could Face Lower Support at $56K
However, if BTC breaks below $57,000, buyers will likely wait to enter around lower support at $56,000.
Updated Mar 6, 2023, 2:47 p.m. Published May 10, 2021, 11:28 a.m.
Buyers continued to take profit around $59,000 after a near 5% rise in bitcoin (BTC) on Sunday. The cryptocurrency is currently at support, trading around $57,800 at the time of writing. Stronger support is seen around the $56,000 level.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Bitcoin is trading near the 100-period moving average on the hourly chart, which suggests profit taking could stabilize during the day.
- However, if BTC breaks below $57,000, buyers will likely wait to enter around lower support at $56,000.
- The relative strength index (RSI) on the hourly chart is not yet oversold, which means price could face further downside after failing to hold above $59,000 over the weekend.
- Bitcoin has retraced about 23% of the recovery from the May 4 low around $53,000. The cryptocurrency continues to consolidate within a broader uptrend.
Lebih untuk Anda
Lebih untuk Anda
[Test Article] Roman Storm's Defense Team Wants to Know if DOJ Withheld Evidence
Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Aenean commodo ligula eget dolor. Aenean massa. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Donec quam felis, ultricies nec, pellentesque eu, pretium quis, sem. Nulla consequat massa quis enim. Donec pede justo, fringilla vel, aliquet nec, vulputate eget, arcu.
Top Stories
