- - The downward sloping 50-day moving average, which has added resistance at $40,000, limits upside.
- - However, the relative strength index (RSI) recorded a sequence of higher lows, indicating that the two-month downturn is easing as buyers return.
- - Bitcoin is still trapped in a price range of $30,000 to $40,000, with no apparent evidence of a price bottom. Despite short-term relief rallies, the weekly chart is not yet oversold, implying that sellers remain in charge.
Click here to join our telegram channel (t.me/DrForexOfficial1) and stay updated with the latest headlines.