Bitcoin RSI provides relief for bulls amid an ongoing attempt to bounce from four-month BTC price lows into the weekly close.
BTC price action takes a break from endless downside to revisit $58,500, but Bitcoin bulls struggle to hold higher ground.Despite “out of hours” weekend trading, however, Bitcoin bulls managed to recover some lost ground, leaving the lows as an outlier at the time of writing.“But now that Bitcoin has most recently Daily Closed above the $56750 to protect this level as support... Bitcoin is showing positive signs to continuing the clustering around the Range Low area.
“This is exactly what we are looking for. If we get a strong close today, then odds are the bottom of this correction is in,” part of hisBTC/USD 1-day chart with RSI data. Source: TradingViewThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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