Share this article
BTC
$84,848.57
+
0.06%ETH
$1,595.01
+
0.63%USDT
$0.9997
+
0.01%XRP
$2.0816
+
1.07%BNB
$592.02
+
0.30%SOL
$137.81
+
2.37%USDC
$0.9998
+
0.02%DOGE
$0.1589
+
2.57%TRX
$0.2411
-
2.18%ADA
$0.6338
+
3.23%LEO
$9.2341
+
0.30%LINK
$12.73
+
1.28%AVAX
$19.27
+
1.15%TON
$3.0019
+
1.33%XLM
$0.2429
+
0.20%SHIB
$0.0₄1233
+
4.35%HBAR
$0.1674
+
2.20%SUI
$2.1445
+
1.01%BCH
$338.80
+
2.94%LTC
$76.39
+
1.40%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 Slides Below $38K, Support Is Above $35K
The pullback could continue into the trading day in Asia.
Bitcoin (BTC) failed to sustain a bounce above $38,000 Wednesday, although short-term buyers could remain active above the $35,000 support level. Momentum is starting to fade on intraday charts, which means the pullback could continue into the trading day in Asia.
BTC was trading at about $37,400 at press time and is down 3% over the past 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The relative strength index (RSI) on the daily chart approached overbought territory on Tuesday, which preceded the current pullback . Additionally, the 100-period moving average on the four-hour chart, currently at $38,220, continues to cap brief price gains.
Bitcoin has been in an intermediate-term downtrend since November and has consolidated between $35,000 and $38,000 over the past week. Buyers will need to make a decisive move above $40,000 in order to reverse the downtrend.
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.
