Bitcoin Range-Bound Above $35K-$37K Support; Resistance at $40K

The sideways price range could result in higher volatility over the next two weeks.

AccessTimeIconMar 14, 2022 at 6:19 p.m. UTC
Updated May 11, 2023 at 3:57 p.m. UTC

Bitcoin (BTC) remains in a tight trading range, although buyers maintained support at $37,500 over the weekend. Still, the cryptocurrency faces strong resistance beyond $40,000, which could limit additional upside over the short term.

BTC was trading at $38,700 at press time and is roughly flat over the past 24 hours.

The downward sloping 100-day moving average has kept the four-month downtrend intact. Recent sideways trading, however, could result in volatile price swings over the next two weeks.

Buyers will need to hold support above $35,000-$37,000 in order to preserve the long-term uptrend.


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.

Damanick Dantes

Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.