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Bitcoin stabilizes between 56k

Bitcoin stabilizes between 56k and 60k range:

Bitcoin Relative Strength Index shows that Bitcoin volatility is fading out and it seems like Bitcoin stabilizes between 56k dollars support and 60k dollar resistance.

The Bitcoin price today is $56,615.59 USD with a 24-hour trading volume of $34,146,511,466 USD. Bitcoin is up 0.53% in the last 24 hours, with a live market cap of $1,069,015,094,557 USD. It has a circulating supply of 18,881,993 BTC coins.

Bitcoin stabilizes between 56k
Source: TradingView

Bitcoin stabilizes between 56k : Analysis

Bitcoin is trying hard since last week, when it broke below, to make a decisive move. It once went oversold when it touched the bottom of 58k dollars on November 16, 2021, dragging the RSI below 30 due to high volatile conditions. As the volatility fades out, Bitcoin RSI scores the 40s and remains neutral for now. The support here is at $56400 and then at $54584 at fib 1.272. The resistance above is at $60,000 at fib -0.65.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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