Bitcoin

Market Moves

Bitcoin (BTC topped $42,500 on Sunday after reaching its lowest mark since late September the day before; ether reaches over $3,200.

Market Analysis

Bitcoin (BTC led crypto’s small recovery from last week’s sell-off, but spot volume remained thin over the weekend. Technician’s take: BTC upside is limited as long-term technical indicators turned negative.

Technical Analysis

Bitcoin (BTC is in a two-month downtrend, defined by a series of lower price highs. The cryptocurrency was down about 9% over the past week as upside momentum continued to slow. There is minor support around $40,000, which could stabilize the current pullback. However, upside appears limited around the $45,000 resistance level. The relative strength index (RSI) on the daily chart is the most oversold since Dec.11, albeit within a price downtrend.

Market Outlook

Bitcoin is roughly two weeks away from registering a downside exhaustion signal, which