Bitcoin futures are trading up by 1.24% as of 2 PM EST, and are pegged at $39,090. BTC futures are butt up against resistance residing at $40,000 and looks poised to re-test support at $30,000. The recovery from the lows at $30,000 seems to have lost steam and was short lived so we are expecting lower prices and viewing the recent recovery most likely as a dead cat bounce.

Today Bitcoin futures posted their largest gains in nearly a month. BTC futures gained around 8% or $2,880 to close today at $38,965. Over the last few days, quite a few high-profile investors have come out with favorable comments regarding Bitcoin.

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.

Bitcoin futures continue to rebound off of the lows hit on both Friday, April 23^rd, and Monday, April 26^th, when CME futures fell, forming a double bottom at around $47,500.