Why Bitcoin Is Oversold As BTC Reclaims Territory North Of $20,000
Bitcoin was able to score some profits over today’s trading session as the market slightly rebounded after a spike in selling pressure. This saw the largest cryptocurrencies trading in the red negatively impacting market sentiment. Related Reading: Holders Accumulate, Blockchain Activity Decreases In Both Bitcoin And Ethereum At the time of writing, Bitcoin (BTC) trades at $20,300 with a 1% profit over the last 24 hours and a 6% loss over the past week. In the crypto top ten by market cap, BTC stands as one of the best performers only surpass by ETH’s price by 4% over the same period.....
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Bitcoin price is currently trading at around $23,500 at the time of this writing, up over 30% from lows and 10% for the week. The recovery has brought the weekly RSI out of oversold territory after reaching historical levels. Here is why the setup could be the buy signal bulls have been waiting for, and how the Relative Strength Index currently resembles the last bear market bottom. Weekly Bitcoin RSI Recovers From Historical Oversold Conditions In technical analysis, sometimes less is more. Traders commonly fill a chart with lines or indicators, desperately seeking an edge in the market.....
Ether's price rebounded by nearly 400% after its RSI turned oversold the last time. Will this time be different? Ethereum's native token Ether (ETH) entered its "oversold" territory this June 12, for the first time since November 2018, according to its weekly relative strength index (RSI).This is the last time $ETH went oversold on the weekly (hasn’t confirmed here yet). I had no followers, but macro bottom ticked it. Note, you can push way lower on weekly rsi, not trying to catch a bottom. https://t.co/kLCynTKTcS— The Wolf Of All Streets (@scottmelker) June 12, 2022 ETH eyes oversold....
The price of Avalanche (AVAX) slips at $30 against Tether (USDT) as Avalanche (AVAX) eyes key support to hold the price from selling off. AVAX showed great strength rallying to a high of $30 but was rejected as Bitcoin’s (BTC) price continued to go lower, affecting the price of AVAX from trending higher. (Data from Binance) Related Reading: Why Bitcoin Is Oversold As BTC Reclaims Territory North Of $20,000 Avalanche (AVAX) Price Analysis On The Weekly Chart According to the chart, the price of AVAX had a strong bullish bias at $30, but the price was rejected from that region,....
Bitcoin is struggling to shake off weakness, judging by its performance in the last few trading days. After the dump on June 24, the overall sentiment has been bearish, and sellers will likely double down, wiping gains posted in the last two days. As things stand, the sale of 4,000 BTC by the United States government is a dent for buyers. It comes hours after the German government dumped thousands of BTC early this week, forcing prices to lower. Bitcoin Trending At Oversold Territory One analyst is upbeat even amid this sense of unease across the crypto and Bitcoin markets. Citing....
The Bitcoin price trades close to the $26,000 level during today’s trading session, as it has since last week. However, new data points to a potential breakout out of the current range and into previously unexplored territory in 2023. Related Reading: Bloomberg Expert Analyst Explains Why A Fall To $10,000 Isn’t Bad For Bitcoin As of this writing, Bitcoin trades at $25,950 with sideways movement across the board. Other cryptocurrencies in the top 10 by market capitalization display similar price action as the sector enters another period of low volatility. Bitcoin On The Verge Of Making A....