Trending Coins

Bitcoin Attempts Range Breakout, Faces Resistance at $42K

  • The short-term trend is improving as prices returned above the 100-period moving average on the four-hour chart.
  • There is immediate resistance at $40,000, which could limit upside, especially as the relative strength index (RSI) appears to be overbought on the four-hour chart.
  • Minor support is seen at around $34,000, which is the midpoint of the short-term range. If support holds, a decisive breakout above $42,000 could shift the downtrend from May.

You may also like...