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Bitcoin Maintains Trend Support at $56K, All-Time High Within Reach Around $61K
The month-long uptrend from $43,000 remains intact, although longer-term signals are weakening.
Updated Mar 6, 2023, 2:57 p.m. Published Mar 19, 2021, 11:27 a.m.
The short-term uptrend for bitcoin (BTC) is improving, with next resistance at the March all-time high around $61,000. Traders continue to experience choppy price action on intraday charts, but buyers remained active at trend support around $56,000.
STORY CONTINUES BELOW
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- Bitcoin is currently battling resistance from its February price high around $58,000 while lower support levels continue to attract buyers.
- The month-long uptrend from $43,000 remains intact, although longer-term signals are weakening.
- Momentum on the daily chart continues to diverge from price, defined by lower highs on the relative strength index (RSI).
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