CoinDesk Analysis Team
CoinDesk
Bitcoin (BTC) is stabilizing around the $60,000 support level after declining about 15% from an all-time high near $69,000.
The cryptocurrency is roughly flat over the past 24 hours and could see further upside toward the $63,000-$65,000 resistance zone.
Both the 50-day and 100-day moving averages are sloping upward, indicating a positive intermediate-term trend. This means buyers could remain active on pullbacks given strong price support above $53,000.
For now, the relative strength index (RSI) on the daily chart is below a neutral reading of 50, which means a period of consolidation could continue until a decisive breakout or breakdown is confirmed.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
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