Bitcoin (BTC) Price Analysis and Prediction: Is Bitcoin Bottoming Out after the Latest Dump?
- PHPzOriginal
- 2024-06-27 14:31:22304browse
Analyst Josh of Crypto World examined various BTC charts and said that there hasn’t been much change in the last day.
Bitcoin price showed little change over the last day as it continues a short-term bearish trend, which began forming after hitting a local high of $62,000. However, the daily relative strength index (RSI) has now entered oversold territory.
Bitcoin price showed little change over the last day, continuing a short-term bearish trend. The bearish momentum began building after BTC price hit a local high of $62,000.
Examining the daily BTC chart, we can see that the price continues a short-term bounce from the support area between $60,000 and $61,000 , which was recently seen at the local low.
If there is a confirmed break below $60,000, the next significant support area is between $56,500 and $58,000.
The daily Bitcoin RSI entered oversold territory for the first time in many months, which historically indicates that the price is either very close to or has already hit a local low. This suggests a potential bounce or sideways consolidation in the short term.
After hitting a local high of $62,000, Bitcoin price showed little change over the last day, continuing a short-term bearish trend, which began forming after hitting a local high of $62,000.
Examining the daily BTC chart, we can see that the price continues a short-term bounce from the support area between $60,000 and $61,000 , which was recently seen at the local low.
If there is a confirmed break below $60,000, the next significant support area is between $56,500 and $58,000.
The daily Bitcoin RSI entered oversold territory for the first time in many months, which historically indicates that the price is either very close to or has already hit a local low. This suggests a potential bounce or sideways consolidation in the short term.
After hitting a local high of $62,000, Bitcoin price showed little change over the last day, continuing a short-term bearish trend, which began forming after hitting a local high of $62,000.
Examining the daily BTC chart, we can see that the price continues a short-term bounce from the support area between $60,000 and $61,000 , which was recently seen at the local low.
If there is a confirmed break below $60,000, the next significant support area is between $56,500 and $58,000.
The daily Bitcoin RSI entered oversold territory for the first time in many months, which historically indicates that the price is either very close to or has already hit a local low. This suggests a potential bounce or sideways consolidation in the short term.
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