Bitcoin holding support at $60K, could face resistance at $63K-$65K

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.

Author

CoinDesk Analysis Team

CoinDesk

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

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