Bitcoin Holding Support Above $35K-$37K, Resistance at $45K
BTC appears to be oversold on intraday charts, although momentum has weakened.
![Bitcoin four-hour chart shows support/resistance with RSI on bottom (Damanick Dantes/CoinDesk, TradingView)](https://www.coindesk.com/resizer/Rp5tT5uA-jhjj-nskSbij_IikVo=/567x295/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SMULCOQ23BESRMZ7ONG4PNX6YY.png)
Bitcoin (BTC) traded lower over the weekend after buyers were unable to break above the $40,000 price level. Immediate support is at $37,000, which could stabilize the pullback, although stronger support is seen at $35,000.
The cryptocurrency continues to trade in a tight price range and is down 2% over the past 24 hours to about $38,000.
Upside momentum is slowing on the daily chart, which points to further consolidation around the current price. Resistance is seen at $45,000.
The relative strength index (RSI) on the four-hour chart is rising from oversold levels, similar to what occurred during the last week of February, which preceded a price jump. Still, the RSI can remain in oversold territory for a few days before confirming an upswing (typically with a reading above 50).