Bitcoin (BTC) held support around $50,000 after registering an oversold signal on the four-hour relative strength index (RSI). The next level of resistance is seen around $60,000.

  • The four-hour RSI is not yet overbought, which could keep buyers active above the $54,000 support level.
  • BTC is now breaking above a series of lower price highs from March 13, which suggests the short-term trend is recovering.
  • The daily RSI is back in neutral territory, which previously supported strong price rallies.
  • However, traders should continue to monitor intraday resistance levels as the broader uptrend from January slows.  
Four-hour chart shows BTC support and resistance levels with RSI.
Source: TradingView
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.