Share this article
BTC
$82,349.47
-
0.47%ETH
$1,751.08
-
1.73%USDT
$0.9995
-
0.03%XRP
$2.0671
-
2.81%BNB
$579.20
-
2.20%USDC
$0.9998
-
0.03%SOL
$114.60
-
2.66%DOGE
$0.1609
-
3.87%TRX
$0.2390
+
0.69%ADA
$0.6255
-
3.69%LEO
$9.0877
-
0.08%TON
$3.2974
+
1.28%LINK
$12.26
-
2.95%XLM
$0.2513
+
0.34%AVAX
$17.22
-
3.69%SHIB
$0.0₄1190
-
1.86%SUI
$2.0785
-
5.75%HBAR
$0.1537
-
4.04%LTC
$78.63
-
4.26%OM
$6.1583
-
1.98%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Recovering, Faces Short-Term Resistance Near $46K
Upside appears to be limited as the largest cryptocurrency trades at $43,700.
Bitcoin (BTC) is recovering above its $40,000-$42,000 support zone after oversold signals appeared on the charts. Initial resistance is seen at around $46,000, which could limit further upside short term.
BTC was trading at around $43,700 at press time and is up 4% 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 four-hour chart is rising from oversold levels that appeared earlier this week. The RSI is not yet overbought, which could keep buyers active, albeit limited toward $46,000 resistance.
- On the daily chart, however, the RSI is approaching neutral levels, which suggests further consolidation is needed to recapture upside momentum.
- Resistance remains strong toward $50,000 as bitcoin registered a series of lower price highs over the past two weeks.
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.
