Bitcoin [BTC/USD] Technical Analysis: Bulls look to take back control as price moves sideways
Bitcoin [BTC] has continued its sluggish sideways movement that is representative of the market in the past week, with the sharp uptrend in its price soon finding the momentum dying down. Investors are looking on the horizon for another break soon, with the indicators showing that the movement might occur soon.
https://ambcrypto.com/bitcoin-btc-usd-technical-analysis-bulls-look-to-take-back-control-as-price-moves-sideways/
The $6625 – $6660 uptrend is acting as a resistance for the price, with the $6210 – $6445 uptrend providing a support for the price. The $6660 – $6465 downtrend is in power currently, as the price dropped after the sharp upwards hike.
The Relative Vigor Index is moving upwards, demonstrating a bullish crossover of the MA over the signal line.
The Stochastic RSI is in the overbought zone and may represent an entry point considering that the price is in a downtrend. If the uptrend into overbought is short-lived, it may represent a buy signal for the coin.
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