Short-term momentum is improving, albeit within an intermediate-term downtrend that began in April. Initial resistance is seen at the 50-day moving average near $34,000.
Bitcoin daily price chart shows support and resistance levels with RSI.
The relative strength index (RSI) on the daily chart is rising from oversold levels, which could keep short-term buyers active into the weekend.
Resistance remains strong around $40,000, which Is near the top of the two-month price range.
The weekly chart is not yet oversold, although downside momentum is starting to slow.
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