BTC
$103,983.01
+
0.69%
ETH
$2,591.26
+
0.18%
USDT
$1.0001
+
0.00%
XRP
$2.5010
-
1.99%
BNB
$659.43
+
1.28%
SOL
$174.00
-
0.87%
USDC
$0.9999
-
0.00%
DOGE
$0.2284
-
1.54%
ADA
$0.7895
-
1.21%
TRX
$0.2757
-
0.24%
SUI
$3.9111
-
0.20%
LINK
$16.66
-
1.52%
AVAX
$24.08
-
4.38%
XLM
$0.3030
-
0.82%
SHIB
$0.0₄1523
-
3.51%
HYPE
$25.96
+
4.24%
HBAR
$0.2028
-
1.82%
LEO
$8.8901
+
1.04%
BCH
$397.97
-
1.30%
TON
$3.1466
-
3.66%
Logo
  • News
  • Prices
  • Data
  • Indices
  • Research
  • Consensus
  • Sponsored
  • Sign In
  • Sign Up
Advertisement

Consensus 2025

Consensus 2025

Prices Increase This Friday

15:02:27:20

15

DAY

02

HOUR

27

MIN

20

SEC

Register Now
Markets
Share this article
X iconX (Twitter)LinkedInFacebookEmail

Bitcoin Bounce Fades; Minor Support at $30K-$36K

Sellers could remain active over the short term.

By Damanick Dantes
Updated May 11, 2023, 3:54 p.m. Published Feb 23, 2022, 7:46 p.m.
Bitcoin four-hour chart shows support/resistance, with RSI on bottom. (Damanick Dantes/CoinDesk, TradingView)
Bitcoin four-hour chart shows support/resistance, with RSI on bottom. (Damanick Dantes/CoinDesk, TradingView)

Bitcoin (BTC) attempted to re-test the $40,000 resistance level on Wednesday, although the price bounce was short-lived. The cryptocurrency could find support at $36,000 on intraday charts, although stronger support is seen at $30,000.

BTC was trading at $37,800 at press time and has been roughly flat over the past 24 hours.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

The relative strength index (RSI) on the four-hour chart is neutral, which means the price could remain within the $36,000-$40,000 range into the Asia trading day. On the hourly chart, however, the RSI is declining from overbought levels. That means sellers could remain active over the short term.

Momentum signals are still negative, which is one reason why price bounces have been brief over the past few months. For now, upside appears to be limited beyond $46,000.

Technical AnalysisBitcoinBitcoin PriceTradingInvestingMarkets
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.

Damanick Dantes

Only 1 article remaining this month.

Sign up for free

About

  • About Us
  • Masthead
  • Careers
  • CoinDesk News
  • Crypto API Documentation

Contact

  • Contact Us
  • Accessibility
  • Advertise
  • Sitemap
  • System Status
DISCLOSURE & POLICES
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
EthicsPrivacyTerms of UseCookie SettingsDo Not Sell My Info

© 2025 CoinDesk, Inc.
X icon
Sign Up
  • News
    Back to menu
    News
    • Markets
    • Finance
    • Tech
    • Policy
    • Focus
  • Prices
    Back to menu
    Prices
    • Data
      Back to menu
      Data
      • Trade Data
      • Derivatives
      • Order Book Data
      • On-Chain Data
      • API
      • Research & Insights
      • Data Catalogue
      • AI & Machine Learning
    • Indices
      Back to menu
      Indices
      • Multi-Asset Indices
      • Reference Rates
      • Strategies and Services
      • API
      • Insights & Announcements
      • Documentation & Governance
    • Research
      Back to menu
      Research
      • Consensus
        Back to menu
        Consensus
        • Consensus Toronto
        • Toronto Coverage
      • Sponsored
        Back to menu
        Sponsored
        • Thought Leadership
        • Press Releases
        • CoinW
        • MEXC
        • Phemex
        • Advertise
      • Videos
        Back to menu
        Videos
        • CoinDesk Daily
        • Shorts
        • Editor's Picks
      • Podcasts
        Back to menu
        Podcasts
        • CoinDesk Podcast Network
        • Markets Daily
        • Gen C
        • Unchained with Laura Shin
        • The Mining Pod
      • Newsletters
        Back to menu
        Newsletters
        • The Node
        • Crypto Daybook Americas
        • State of Crypto
        • Crypto Long & Short
        • Crypto for Advisors
      • Webinars & Events
        Back to menu
        Webinars & Events
        • Consensus 2025
        • Policy & Regulation Conference
      Select Language
      English enEspañol esFilipino filFrançais frItaliano itPortuguês pt-brРусский ruУкраїнська uk