Share this article
BTC
$87,568.38
+
0.95%ETH
$1,567.12
-
2.91%USDT
$0.9999
+
0.02%XRP
$2.0815
-
1.32%BNB
$598.93
+
0.08%SOL
$137.00
-
3.50%USDC
$0.9998
+
0.01%DOGE
$0.1591
-
0.34%TRX
$0.2469
+
0.95%ADA
$0.6221
-
2.11%LINK
$13.07
-
3.50%LEO
$9.0998
-
1.57%AVAX
$19.63
-
1.66%XLM
$0.2493
-
0.11%TON
$2.9046
-
4.06%SHIB
$0.0₄1228
-
2.36%SUI
$2.1959
+
1.01%HBAR
$0.1687
-
0.94%BCH
$340.55
-
0.13%HYPE
$18.11
+
0.03%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 Rangebound at Support; Resistance at $36K
Minor support is seen at $33,000, which is near the 100-day moving average on the four-hour chart.
Bitcoin (BTC) was holding support around $33,000 at press time and is down about 5% over the past week. The cryptocurrency had a choppy trading session during Asia hours and is stuck in a tight range since June. Initial resistance is seen at $36,000 as short-term buyers continue to take profits.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- A series of lower price highs over the past two weeks has prevented bitcoin from reaching $40,000, which is the top of the trading range.
- Minor support is seen at $33,000, which is near the 100-day moving average on the four-hour chart.
- Bitcoin also has a series of higher price lows from the June 22 shakeout around $29,000. Lower price highs and higher prices lows indicates a period of consolidation as buyers and sellers are undecided about future price direction.
- The relative strength index (RSI) is broadly neutral after reaching overbought levels on July 4, which preceded a pullback in price.
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.
