Share this article
BTC
$94,408.27
-
0.21%ETH
$1,798.69
-
0.47%USDT
$1.0002
-
0.01%XRP
$2.2007
-
2.23%BNB
$600.68
-
0.19%SOL
$148.15
+
0.89%USDC
$1.0001
+
0.01%DOGE
$0.1737
-
1.37%ADA
$0.6872
-
1.59%TRX
$0.2473
+
1.22%SUI
$3.5258
-
1.34%LINK
$14.44
-
1.58%AVAX
$21.05
-
3.25%XLM
$0.2723
-
2.29%LEO
$9.0640
+
0.87%TON
$3.1701
-
1.31%SHIB
$0.0₄1334
-
1.38%HBAR
$0.1835
-
2.17%BCH
$369.77
+
1.96%HYPE
$19.62
+
6.21%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 Stuck Below $40K, Eyes Short-Term Oversold Bounce
Bitcoin buyers could maintain support above $36K.
Bitcoin (BTC) buyers continue to struggle below $40,000 resistance as the short-squeeze rally fades. The cryptocurrency was trading at around $38,000 at press time and is down 4% over the past week. Short-term oversold signals suggest the pullback could stabilize above $36,000 support.
STORY CONTINUES BELOW
- The relative strength index (RSI) is rising from oversold levels on the hourly chart, which could encourage short-term buying.
- Upside appears to be limited toward $40,000 resistance as bitcoin remains in a consolidation phase.
- The daily RSI is declining from overbought levels with slowing momentum, although support could hold above $34,000 to $36,000.
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.
