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Bitcoin consolidates above $45k support, resistance at $50k

Bitcoin consolidates above $45k support, resistance at $50k
CoinDesk Analysis TeamCoinDesk Analysis TeamCoinDesk

Bitcoin (BTC) is trading sideways, indicating a period of consolidation as buyers and sellers appear to be at a stalemate. Resistance is seen around $50,000, which could limit upside into the weekend.

The cryptocurrency is holding support above the 200-day moving average, currently near $45,800. BTC is up 5% over the past week as upside momentum improves.

  • The relative strength index (RSI) on the daily chart is neutral as price consolidates within a tight range.

  • Bitcoin remains in breakout mode after re-testing the $42,000 support level last week, suggesting buyers could remain active over the short-term.

Author

CoinDesk Analysis Team

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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