U.S. markets closed
  • S&P Futures

    4,444.50
    -30.25 (-0.68%)
     
  • Dow Futures

    34,522.00
    -94.00 (-0.27%)
     
  • Nasdaq Futures

    14,657.75
    -183.25 (-1.23%)
     
  • Russell 2000 Futures

    2,013.10
    -8.10 (-0.40%)
     
  • Crude Oil

    86.29
    -0.61 (-0.70%)
     
  • Gold

    1,841.70
    -0.90 (-0.05%)
     
  • Silver

    24.51
    -0.21 (-0.83%)
     
  • EUR/USD

    1.1329
    +0.0012 (+0.10%)
     
  • 10-Yr Bond

    1.8330
    +0.0060 (+0.33%)
     
  • Vix

    25.59
    +1.74 (+7.30%)
     
  • GBP/USD

    1.3595
    -0.0005 (-0.04%)
     
  • USD/JPY

    113.7550
    -0.3450 (-0.30%)
     
  • BTC-USD

    38,770.30
    -3,140.34 (-7.49%)
     
  • CMC Crypto 200

    915.95
    -79.31 (-7.97%)
     
  • FTSE 100

    7,585.01
    -4.65 (-0.06%)
     
  • Nikkei 225

    27,377.34
    -395.59 (-1.42%)
     

Bitcoin Returns Above $58K as Momentum Improves

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
Bitcoin daily price chart (Damanick Dantes/CoinDesk, TradingView)
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • BTC-USD

Bitcoin (BTC) is holding support above its 100-day moving average, currently around $54,200, as last week’s sell-off stabilizes.

The cryptocurrency was trading around $58,000 at press time and could face initial resistance at $60,000-$63,000.

Price momentum is starting to recover on the daily chart, which suggests buyers could remain active into the Asia trading day. Additionally, the relative strength index (RSI) on the daily chart is near oversold levels similar to what occurred in late September, which preceded a price rally.

For now, buyers will need to clear resistance in order to yield further upside targets. Longer-term indicators have shifted neutral as buyers failed to sustain an all-time high near $69,000 over the past month.