BTC remains in a consolidation phase after failing to sustain moves above $64,000.
BTC 's price recovery could be limited into the weekend.
BTC remains under pressure and could find lower support near $42K as long-term momentum wanes.
"We are watching $42,000 as support," analyst said.
Long-term momentum is deteriorating as buyers continue to take profit on rallies.
The broader uptrend remains intact despite several months of consolidation.
However, if BTC breaks below $57,000, buyers will likely wait to enter around lower support at $56,000.
BTC buyers continue to take profits on recoveries.
BTC could face resistance near the all-time high on improving trend strength.
Bitcoin has retraced roughly 38% of the sell-off from May 3 as the short-term trend improves.
Bitcoin stabilized after a near 5% drop during Asia hours. Momentum is slowing, which could limit rallies.
The virtual currency is approaching its resistance level.
Bitcoin has fully recovered from a late Thursday decline and is approaching resistance around $56K-$58K.
BTC continues to struggle near resistance and could approach lower support around $52K.
Bitcoin stalled just below $56K resistance after a near 18% price recovery from last week's sell-off. Short-term support is within reach.