Bitcoin Analysis


Bitcoin consolidated for a second straight session, with the cryptocurrency hovering around a floor at $26,500.
Following a high of $26,786.10 on Friday, BC/USD slipped to a low of $26,389.30 earlier in the session.
The price of bitcoin has since rebounded, and at the time of writing this is trading at the $26,570.51 level.
It appears that the rebound came as the relative strength index (RSI) failed to break out of its own floor at 50.00.
At the time of writing this, price strength is tracking at 50.01, and should this hold, bulls could be tempted to renter the market.
Moving averages continue to signal that there could be an incoming uptrend, with the 10-day (red) trend line still higher.#ContentStar #BTC #HotTopicDiscussion
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