Bitcoin Maintains Trend Support at $56K, All-Time High Within Reach Around $61K

The short-term uptrend for bitcoin (BTC) is improving, with next resistance at the March all-time-high around $61,000. Traders continue to experience choppy price action on intraday charts, but buyers remained active at trend support around $56,000.

• Bitcoin is currently battling resistance from its February price high around $58,000 while lower support levels continue to attract buyers.
• The month-long uptrend from $43,000 remains intact, although longer-term signals are weakening.
• Momentum on the daily chart continues to diverge from price, defined by lower highs on the relative strength index (RSI).