Where is the next support for Bitcoin?
Bitcoin’s price has been declining over the past few days, almost reverting all gains from the past greenish week. In fact, Bitcoin lost over $6K over the past 3-days.
BTC also broke below the 50-day moving average, spreading fear all over the market once again. However, there is still the chance to reclaim back above the significant moving average line over the past few days. In that case, we might see another attempt towards the $45K resiatnce. The RSI also indicated that the price was at ‘overbought’ at the top of the range, with values above 70.was also spotted by this oscillator, pointing to a possible correction in the short term. Currently, the RSI is entering the oversold area on the 4-hour time frame, indicating that a short-term bottom could be near.
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