Crypto

BTC futures are trading down by $3,100 or 5.37% on the day, closing just below the 50-day moving average

Bitcoin futures have been trading sideways in March, and we see this pattern likely to continue for the rest of the month.

Bitcoin continues to have resistance right above $57,000, still closing with a gain of $2,420 (+4.44%) at $56,935. Today’s closing price is right where the Monday’s close, and we have effectively formed a Doji on a weekly candlestick chart. We continue to see BTC as being in a consolidation stage, unsure of which direction it will take next.

BTC futures are holding on to Friday’s gains and currently are trading fractionally higher (+0.38%) at $57,530 after coming down from today’s highs at $59,000. Resistance remains at $61,000 and major resistance at $64,000.