Bitcoin Rallies From Oversold Levels; Resistance Nearby
Upside momentum is improving after several months of consolidation.
Bitcoin Price
Bitcoin is in pullback mode with lower support near $32K-34K.
"The speculation that has ensued around our specific plans for cryptocurrencies is not true," a spokesperson said.
Technical data suggests lower support around $34,000 could stabilize the current pullback.
The strong bounce in bitcoin over the weekend occurred as shorts covered positions.
Market analysts say Monday's price gains accelerated amid a short squeeze.
Bitcoin Price
