BTC Failed to Break the $46,000 Resistance

The first cryptocurrency is in positive territory (+9% in 24 hours). For more than a week, its chart shows an increase in price (+5% in 7 days). So far, however, the $46,000 mark is a serious constraint on further growth.

Yesterday we wrote that bitcoin began a new round of growth. Many analysts believe that this is a bull market in the long term. However, today, despite the positive news about overcoming the $45,000 mark, the cryptocurrency price has not gone higher.

On the intraday chart, the cryptocurrency looks overbought. This led to the fact that after the rise to $45 thousand there was a rollback to yesterday's intraday indicators.

Currently, Bitcoin, according to CoinMarketCap, is trading at $44.45 thousand. The nearest resistance level is $46 thousand. The stronger one is $50.9 thousand. The support level is $40-42 thousand.

 

 

The monthly chart shows a negative signal. Thus, many experts say that the upside potential of Bitcoin is limited so far.

According to analyst John Bollinger, a strengthening at $45,000 will be an incentive for Bitcoin to make a key pivot.

As for the second most important cryptocurrency, for ETH, according to the trader, the key pivot will be reaching $3.2 thousand. Today, its maximum was $3.19 thousand on the Coinbase exchange. This is a great reason to pay attention to BTC and ETH.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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