Bitcoin buyers (BTC) held support for about $ 40,000 as resale signals appeared on the charts.
A recent jump suggests the cryptocurrency is starting to recover after falling nearly 30% from its all-time high of about $ 69,000 in November.
Relative strength index (RSI) on the four-hour chart is approaching overpricing levels, similar to what happened in late December, which preceded the brief withdrawal. The RSI on the daily chart, however, continues to rise from oversold levels, meaning customers could remain active on falling prices.
However, given the short-term declining trend, growth appears to be limited by the $ 45,000 to $ 48,000 resistance zone. And on weekly and monthly charts, momentum signals remain negative, meaning price growth could be limited for now.