Bitcoin Stalls Near Resistance; Support Around $54K

BTC stalled just shy of $60K resistance during Asia hours. Support is around $54K.

AccessTimeIconMar 31, 2021 at 11:22 a.m. UTC
Updated Mar 6, 2023 at 3:31 p.m. UTC

Bitcoin (BTC) approached resistance just shy of the $60,000 level during Asia hours. The cryptocurrency continues to consolidate with buyers showing limited strength from support levels.

  • Support is around $54,000 on the four-hour chart, which is roughly the midpoint of the month-long consolidation.
  • The four-hour relative strength index (RSI) is now overbought, which could encourage some profit-taking towards lower support levels.
  • The previous RSI overbought signal on March 13 preceded a roughly 13% drop in BTC from its all-time high around $61,000.
  • BTC’s uptrend remains intact on the daily chart with support from oversold bounce at $50,000.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.