Share this article
BTC
$83,188.74
-
0.32%ETH
$1,803.14
-
0.26%USDT
$0.9999
+
0.02%XRP
$2.1263
-
0.28%BNB
$591.58
-
0.38%SOL
$119.91
-
0.58%USDC
$1.0003
+
0.03%DOGE
$0.1665
-
1.17%ADA
$0.6428
-
1.85%TRX
$0.2365
-
0.41%LEO
$9.1611
-
0.65%LINK
$12.73
-
0.68%TON
$3.2585
-
1.53%XLM
$0.2509
-
2.51%SHIB
$0.0₄1223
-
0.83%AVAX
$17.32
-
4.44%SUI
$2.1715
-
2.55%HBAR
$0.1589
-
2.05%LTC
$82.07
-
2.10%OM
$6.2515
-
0.27%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Holds Short-Term Support at $46K; Resistance at $50K
The tight price range could persist into the Asia trading day.
Bitcoin (BTC) is holding steady around the $46,000 support level as oversold signals appear on the charts. This means short-term buyers could remain active into the Asia trading day, although upside appears to be limited toward $50,000.
The tight trading range over the past two weeks coincided with slowing price momentum. Typically, trading volume declines when prices move sideways until a decisive breakout or breakdown is realized.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On the daily price chart, initial signs of downside exhaustion have appeared for the first time since July, which preceded a price recovery. Still, these signals are not yet confirmed, especially because multiple oversold readings have not resulted in a meaningful price bounce over the past two weeks.
For now, the intermediate-term uptrend remains weak given the downward sloping 100-period moving average on the four-hour price chart. There is also strong resistance up ahead, which could keep sellers in control.
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.
