Bitcoin (BTC) dipped below $65,000 as buyers continue to take some profits. The cryptocurrency was trading around $64,000 at press time and is down 2% over the past 24 hours. Lower support is seen around $60,000, which could stabilize the current pullback.

The relative strength index (RSI) on the four-hour chart is near oversold levels, similar to Oct. 27, which preceded a near 10% price rise. This time, however, buyers could face resistance around $65,000 given the loss of upside momentum this week.

Indicators suggest a period of consolidation could persist after upside exhaustion signals appeared on the charts yesterday. Further, a negative divergence on the daily RSI suggests limited upside over the short-term.

The weekly chart shows improving price momentum, although a decisive breakout above $69,000 needs to be confirmed before projecting upside targets.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »