"Still a lack of large buyers, or what we refer to as "whales" on-chain. This looks at entities with over 1,000 BTC and then filters out exchanges," William Clemente, the author of Blockware Intelligence newsletter, said in the latest weekly edition published Friday. Source link … [Read more...] about Bitcoin Whales Stay Away Even as Technical Indicator Flashes Oversold
BTC is the most oversold since Dec. 10, according to the relative strength index (RSI) on the daily chart. Typically, oversold readings precede price recoveries, similar to what occurred in late-September. This time, however, price reaction to the RSI and other indicators has been delayed. Source link … [Read more...] about Bitcoin Rises from Oversold Levels; Faces Resistance Near $45K
Bitcoin (BTC) remains in a two-month long downtrend, defined by a series of lower price highs.The cryptocurrency was down about 9% over the past week as upside momentum continued to slow.There is minor support around $40,000, which could stabilize the current pullback. However, upside appears limited around the $45,000 resistance level. This means buyers could quickly take … [Read more...] about Bitcoin Oversold Within Downtrend; Resistance at $45K
Bitcoin (BTC) continues to hold support above $46,000, which is near its 200-day moving average. The cryptocurrency could see a brief price bounce toward $55,000 if buyers react to oversold signals on the charts.BTC was changing hands around $47,900 at press time and has traded in a tight trading range over the past week.Price momentum is starting to turn positive on the daily … [Read more...] about Bitcoin Oversold Near $46K Support; Resistance at $55K
Trading is neither an exact science nor art. It is a mixture of both. There are scores of publicly available indicators and each claims to be the best. However, none of them are perfect or designed to be used in isolation.One of the more popular indicators widely used by several traders is Bollinger Bands, an indicator that can be used to spot price peaks, lows, and … [Read more...] about Is Bitcoin overbought or oversold? Use Bollinger Bands to find out!