Share this article
BTC
$77,009.80
-
2.39%ETH
$1,477.98
-
5.78%USDT
$0.9991
-
0.05%XRP
$1.8307
-
4.89%BNB
$556.28
-
0.23%USDC
$1.0000
+
0.00%SOL
$105.72
-
1.27%TRX
$0.2323
+
1.77%DOGE
$0.1439
-
3.58%ADA
$0.5633
-
3.83%LEO
$8.9975
+
0.67%TON
$2.9968
-
2.89%LINK
$11.02
-
4.12%XLM
$0.2250
-
4.35%AVAX
$16.19
-
3.88%SUI
$1.9744
-
4.01%HBAR
$0.1492
-
1.62%SHIB
$0.0₄1064
-
6.73%OM
$6.1989
-
1.38%BCH
$271.61
-
2.14%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 Struggles Near Resistance, Support Around $52K
BTC continues to struggle near resistance and could approach lower support around $52K.
Bitcoin (BTC) continues to stall despite its brief spike toward $56,000 on Wednesday. The cryptocurrency was trading around $54,000 at the time of writing and could approach lower support around $52,000.
STORY CONTINUES BELOW
- Bitcoin remains in a downtrend on the four-hour chart defined by a series of lower price highs since the April 14 all-time high of around $64,800.
- There is strong resistance from the $60,000 level and around $56,000. The 100-period moving average on the four-hour chart has kept a lid on price movements since the April 17 sell-off.
- The relative strength index (RSI) on the four-hour chart is around neutral territory after reaching overbought levels on Tuesday.
- For now, it appears that buyers are still in profit-taking mode as BTC drifts toward lower support around $52,000. A decisive break above $56,000 is needed to resume the roughly 15% price recovery from the April 25 low.
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.
