PlayIconNav
BTC
$54,971.61+0.97%
ETH
$2,314.83+0.85%
BNB
$506.99+0.78%
SOL
$129.30-0.28%
XRP
$0.53078236+0.26%
DOGE
$0.09716042+1.58%
CD20
$1,761.78+0.65%
TRX
$0.15417436+1.71%
TON
$4.94+4.33%
ADA
$0.34276122+2.49%
AVAX
$23.68+2.53%
WBTC
$54,938.15+0.92%
Ad
Markets

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

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

By Damanick Dantes
AccessTimeIconMar 14, 2022 at 6:19 p.m. UTC
Updated May 11, 2023 at 3:57 p.m. UTC
Bitcoin daily price chart shows support/resistance .(Damanick Dantes/CoinDesk, TradingView)
Bitcoin daily price chart shows support/resistance .(Damanick Dantes/CoinDesk, TradingView)

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.

VolumeMuteUnmute

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

Disclosure

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 Block.one; 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.

Damanick Dantes
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.