Bitcoin (BTC) continues to struggle near the $60,000 resistance level. The cryptocurrency traded in a tight range during Asia hours, with initial support around $57,000 and $58,000.

  • BTC’s oversold bounce from $50,000 support remains intact on the hourly chart, which fully retraced the nearly 15% sell-off of last week.
  • Buyers are taking profit around $60,000 as upside momentum slows.
  • The relative strength index (RSI) on the hourly chart is back in neutral territory, which occurred during previous support levels this week.
  • Buyers will need to defend initial support around $57,000 and $58,000 to sustain the intraday uptrend.
CoinDesk - Unknown

DISCLOSURE

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

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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC