Bitcoin (BTC) experienced a minor price jump after oversold signals appeared on intraday charts. Resistance is nearby around $45K, which could keep price within range.Read MoreFeedzy
The relative strength index (RSI) on the four-hour chart is rising from oversold levels despite the recent downtrend in price. That could signal bullish activity toward the $45,000 resistance zone.
Still, BTC has remained in a tight trading range around the $40,000 price level over the past few months. A positive momentum signal on the daily chart is needed in order to signal a price recovery outside of the current trading range.
On the weekly chart, BTC is holding long-term support above its 100-week moving average at $35,700. Positive momentum readings remain intact over the intermediate term, albeit with bearish signals on the monthly chart.
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