BTC is roughly flat over the past 24 hours and down 12% over the past week. For now, technical indicators suggest the pullback could stabilize over the next few days.
The relative strength index (RSI) on the daily chart is near oversold levels, which means buyers could remain active heading into the Asia trading day. Further, positive momentum signals on the weekly chart suggests pullbacks will remain brief this month.
Stronger resistance is seen at $50,966, which could limit an upswing in price.
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