Tanya Abrosimova
Independent Analyst
- BTC/USD consolidates in a narrow range.
- Intraday RSI implies no breakthrough in the nearest future.
One Bitcoin goes for $3,826 ant the time of writing, which is 1% more expensive than this time on Monday. While the recovery is shallow is still to gain ground, a sustainable move above $3,800 may bring some relief for short-term BTC bulls.
Notably, the prices are supported by SMA100 (4-hour) currency ant $3,735. This area has been limiting the decline since Sunday. If it is cleared, the sell-off may be extended towards $3,600 with SMA200 (4-hour) located right below this handle. This barrier is likely to stop the downside and attract new buyers to the market. Otherwise, BTC/UDS will experience an increased downside pressure and move to explore new lows at $3,300.
On the upside, the short-term recovery is capped by $3,880 (SMA50 4-hour, SMA50 1-hour, SMA200 1-hour) and psychological $3,900, strengthened by SMA100 1-hour). Once above, $4,000 will come into focus once again. However, we will need a convincing catalyst to drive the price above this level after the weekend’s failure.
Considering that the Relative Strength Index is flat, in the neural territory on all intraday charts, we may suggest that the coin will continue the rangebound trading with a mild bullish bias.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Jupiter: eyes $0.82 as Fluid backs Jupiter's upcoming lending protocol
Jupiter (JUP) is getting the spotlight in the crypto market after months of being under the radar, recording a spike of 16% in the last 24 hours. The revival comes with increasing decentralized finance (DeFi) activities and the announcement of Jupiter Lend.
Avalanche Forecast: Eyes $30 as FIFA, VanEck back blockchain ecosystem
Avalanche (AVAX) is gaining bullish momentum, extending gains on Friday, trading at $25.74 as investor confidence grows on the back of two major developments. FIFA, football’s global governing body, has announced plans to build its own Layer-1 blockchain on the Avalanche network.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bulls set sights on $120K BTC, $3K ETH, and $3 XRP
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) continue to show signs of strength heading into the weekend, with bullish sentiment lifting prices. BTC is holding steady above $111,000 as traders eye the long-awaited $120,000 milestone.
Top Gainers WLD HYPE ZEC: Privacy coins lead the altcoins rally
The wider crypto market witnesses the altcoins rally gaining traction with the total crypto market cap, excluding Bitcoin and Ethereum crossing $935 billion. Privacy coins such as Worldcoin (WLD) and Zcash (ZEC) lead the rally as investor demand grows to bypass government scrutiny alongside hackers returning to the bull market.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.