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Bitcoin Upside Stalls; Could Find Support Near $30K-$33K
Bitcoin (BTC) stalled near $36,000 resistance during Asia hours and could face further downside towards the $30,000-$33,000 support zone. The cryptocurrency was trading around $34,000 at press time and is down about 2% over the past 24-hours. The relative strength index (RSI) reached overbought levels on the four-hour chart on Tuesday, which could keep sellers active over the short-term. Bitcoin was unable to sustain a series of higher price lows over the past few days. This means a period of consolidation could persist as selling pressure stabilizes from May. Initial support is seen at the 50-period moving average ... (full story)
