BTC is up by 2% over the past 24 hours and down by 24% over the past 30 days. The recent sell-off extended bitcoin's short-term downtrend despite oversold conditions on the chart.
Further, on the daily chart, BTC on track to register a positive momentum signal, per the MACD indicator for the first time since late March. Still, momentum signals remain negative on the weekly and monthly charts, which suggests limited upside from here.
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