Bitcoin Rallies From Support, Resistance Around $60K

But traders should continue to monitor intraday resistance levels as the broader uptrend from January slows.

Mar 29, 2021 at 11:21 a.m. UTC
Updated Sep 14, 2021 at 12:33 p.m. UTC

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.  
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