Bitcoin Moving Back Up
Bitcoin is making a move back up, price was just $56K and is now over $57000 – defnitely keep a watch on things today
Bitcoin Stabilizes Near Support; Resistance Around $56K-$58K
“The cryptocurrency was trading around $54,000 at the time of writing after holding support at around $52,000. The short-term trend is improving, although there is strong resistance around $56,000 and $58,000 that could limit upside into the weekend.
The relative strength index (RSI) on the hourly chart is not yet overbought, which could keep buyers active short-term.
Bitcoin will need to show a decisive break above $56,000 to continue the long-term uptrend. So far, oversold signals from the April 25 low of around $47,000 wasn’t enough to push BTC above the 50-day moving average.
BTC is down about 7% month-to-date and is on track for its first monthly loss this year, also its worst month since September.”