BTC USD daily chart overview
The price of Bitcoin it is still trending sideways with many failed attempts of the sellers to push the prices lower. Currently, the price bounces on from the VPVR peak and the 21 MA at 61k USD and finds selling pressure on the diagonal resistance line starting from 15 of June , having a second touch on September the 7, and since the ATH of 67000 we fall below it again, and acts as a strong resistance (around 63200 USD)!!
The money flow on the Market cipher B also appears to be flat (not new money coming in the market) while the momentum waves now flashed a red dot which means that there is still a bit of a downside price wise. The RSI is flat around 50 and the stochastic RSI is sitting in a n oversold territory! In addition the MACD is still bearish, although it has been converging bullish but hasn't confirm yet. BTC has a very strong support at 58 k in the case that the price fall below the current support, but in the bullish case BTC must close and confirm a breakout to the above 63k .
The money flow on the Market cipher B also appears to be flat (not new money coming in the market) while the momentum waves now flashed a red dot which means that there is still a bit of a downside price wise. The RSI is flat around 50 and the stochastic RSI is sitting in a n oversold territory! In addition the MACD is still bearish, although it has been converging bullish but hasn't confirm yet. BTC has a very strong support at 58 k in the case that the price fall below the current support, but in the bullish case BTC must close and confirm a breakout to the above 63k .
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