Bitcoin Rallies From Support, Resistance Around $60K

Bitcoin (BTC) held support around $50,000 after registering an oversold signal on the four-hour relative strength index (RSI). The next level of resistance is seen around $60,000.

The four-hour RSI is not yet overbought, which could keep buyers active above the $54,000 support level.
BTC is now breaking above a series of lower price highs from March 13, which suggests the short-term trend is recovering.
The daily RSI is back in neutral territory, which previously supported strong price rallies.
However, traders should continue to monitor intraday resistance levels as the broader uptrend from January slows.

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Damanick Dantes

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