Bitcoin price has corrected by over 6% today but this could now be competed.
Bitcoin (BTC) sellers were active on Friday, pushing the cryptocurrency toward the bottom of its weeklong price range. Lower support at about $53,000 could stabilize the current pullback.
BTC was trading at around $55,000 at press time and is down about 2% over the past 24 hours.
Upside momentum is starting to slow on the daily and weekly price charts, which means upside could be limited toward $60,000 resistance. For now, the intermediate-term uptrend remains intact given the upward sloping 100-day moving average.
Further, the relative strength index (RSI) on the daily chart is just below neutral territory, although buying has been weak following an oversold reading on Nov. 26.
hopefully this is enough for one day,
the FXPROFESSOR
Bitcoin (BTC) sellers were active on Friday, pushing the cryptocurrency toward the bottom of its weeklong price range. Lower support at about $53,000 could stabilize the current pullback.
BTC was trading at around $55,000 at press time and is down about 2% over the past 24 hours.
Upside momentum is starting to slow on the daily and weekly price charts, which means upside could be limited toward $60,000 resistance. For now, the intermediate-term uptrend remains intact given the upward sloping 100-day moving average.
Further, the relative strength index (RSI) on the daily chart is just below neutral territory, although buying has been weak following an oversold reading on Nov. 26.
hopefully this is enough for one day,
the FXPROFESSOR
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📣 Professor’s Public Telegram:
💬 t.me/fxprofessor88
🌐 Website: fxprofessor.com
🚀 CryptoGPT Trading Agents:
cryptogpt.io/
🌍 Trade FX with Me (TradeNation):
go.tradenation.com/visit/?bta=37306&brand=tradenation
💬 t.me/fxprofessor88
🌐 Website: fxprofessor.com
🚀 CryptoGPT Trading Agents:
cryptogpt.io/
🌍 Trade FX with Me (TradeNation):
go.tradenation.com/visit/?bta=37306&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.