Share this article
BTC
$85,270.87
+
0.91%ETH
$1,618.02
+
1.61%USDT
$0.9997
+
0.00%XRP
$2.0887
+
0.77%BNB
$592.27
-
0.19%SOL
$138.94
+
3.74%USDC
$0.9998
+
0.01%DOGE
$0.1580
-
0.03%TRX
$0.2427
+
1.10%ADA
$0.6313
+
0.60%LEO
$9.2997
+
0.83%LINK
$13.01
+
3.34%AVAX
$20.03
+
4.47%XLM
$0.2476
+
3.12%TON
$2.9875
-
0.37%SHIB
$0.0₄1239
+
0.86%HBAR
$0.1667
+
1.14%SUI
$2.1663
+
2.03%BCH
$335.42
-
0.88%HYPE
$18.02
+
4.65%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 Consolidates Above $40K Support, Resistance at $45K
Indicators show a period of consolidation could persist given strong resistance above $45K.
Bitcoin (BTC) is attempting to break above a series of lower price highs over the past few days, although upside appears to be limited toward the $45,000 resistance level. Buyers continue to defend support at $40,000, suggesting pullbacks are limited over the short term.
BTC was trading at around $42,000 at press time and is roughly flat over the past 24 hours.
STORY CONTINUES BELOW
- The relative strength index (RSI) on the hourly chart is not yet overbought, which could encourage short-term buying in the $40,000-$45,000 price range.
- On the daily and weekly charts, the RSI is near neutral territory as upside momentum significantly slowed over the past month.
- Indicators show a period of consolidation could persist in the intermediate term given strong resistance beyond $45,000.
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.
