Bitcoin: $3,000 is at risk, oversold RSI won't come to the rescue

Bitcoin sitting exactly at a key resistance line.
Ample downside from here, $3,000 at risk of breaking.

Manoj B Rawal Independent Analyst

Bitcoin, the largest cryptocurrency by market capitalisation is on the verge of breaking another psychologically important mark - $3,000, while the price is sitting exactly at a key resistance level on the medium term chart.

BTC/USD is up less than a percent on day at $3,308 on day on Bitfinex. On 240-minute chart, BTC is sitting exactly at the resistance line from where it has reversed quite a few times in the recent past and even now it won't be a cake walk for the bulls to cross past this barrier.

Temporary bottom can be found, though around $3,000, as mentioned by this author in the earlier article (read here) but that won't be just it and newer lows could be around the corner.

BTC/USD 240-minute chart:

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

Grass 20% bullish breakout defies broader market weakness

Grass (GRASS) is edging up above $0.30 at the time of writing on Monday. The token’s notable 20% intraday surge stands out amid heightened volatility in the broader crypto market.

XRP slides as US-Iran war weakens sentiment

Ripple remains under pressure, trading around $1.35 at the time of writing on Monday. The remittance token extended its down leg to $1.27 on Saturday after the US, in collaboration with Israel, launched attacks on Iran, killing the nation’s Supreme Leader, Ali Khamenei.

Crypto Today: Bitcoin pares losses, Ethereum and XRP drift lower as Middle East conflict pressures risk assets

Bitcoin, Ethereum and Ripple remain on edge as the Israel-US war on Iran risk-off sentiment. The Crypto King trades above $66,000 at the time of writing on Monday, but is struggling to break through the seller congestion around $67,000.

Bitcoin on brink of breakdown amid US-Iran war

Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.