NEW!Incredible offer for our exclusive subscribers! Read More
Other

Bitcoin Reclaims Support; Approaching Resistance Near $56K-$58K

1 Mins read

Bitcoin (BTC) is holding support around $55,400 at the time of writing as buyers attempt to erase Tuesday’s losses. Resistance is seen around $56,000 and $58,000 where traders have taken profit over the past few months.

Источник: cryptonews.net

  • The relative strength index (RSI) on the hourly chart is not yet overbought which suggests about 2%-3% upside to next resistance.
  • Bitcoin remains in a tight range as a pattern of lower highs on the RSI suggests slowing momentum and continued profit taking on rallies.
  • On the daily chart, support around the 100-day moving average preceded price recoveries on April 25 and on May 4 around $53,000. This suggests selling pressure has been limited as BTC consolidates.
  • For now, bitcoin has retraced roughly 38% of the sell-off from May 3 as the short-term trend improves.

Related posts
AltcoinsBTCBusinessCryptoETHMiningNewsOtherStock

Binqwix.com collaborates with Stake.com to offer Crypto services for its users

1 Mins read
Binqwix.com has collaborated with Stake.com to give crypto gamblers with a top-tier exchange where they can deposit, sell, and even convert Crypto…
AltcoinsBTCBusinessCryptoETHOther

Tradex-wallet.com staking platform with the best percentages or is it a temporary phenomenon?

1 Mins read
As it became known, tradex-wallet announced the announcement of a new staking program, rewards and large payouts for staking, the platform raffles…
AltcoinsBTCCryptoETHOther

Cryptwex & 15 More Crypto Exchanges Face Ire of South

2 Mins read
Sixteen international crypto exchanges. Including and the Mexican heavyweight MEXC. Have landed in hot water with Cryptwex.com financial regulators. For failing to comply with local guidelines….
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *