3 minsBITCOIN (BTC/USD):
Currently on the daily timeframe, we can observe that Bitcoin is currently trading just below $59,000.00. We look to have found some support within the $53,000.00 region as we tapped into this range again and traded quite strongly out of it thereafter. After finding support, we continued to trade higher into the $60,000.00 region where we found some resistance as price rejected the 50 Exponential Moving Average (EMA).
As price continues to trade within the $60,000.00 region, we can observe that the Relative Strength Indicator (RSI), is holding steadily within the 50% region, suggesting that there is no signs of the asset being overbought or oversold as of yet…
If price action and volatility starts to pick up, I suspect that the first sort of resistance the asset will face is between the $64,000.00 to $65,000.00 region.
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