Bitcoin Takes a Breather, Could Find Support at $50K-$52K – nurinn

Bitcoin (BTC) buyers are exiting positions as overbought signals appear on the maps. Resistance is seen at around$-$, the position that anteceded a price drop in May. This time, still, retreats could be limited toward the$-$ support zone.

BTC was trading at around$ at press time and is down 3 over the once 24 hours.
The relative strength indicator (RSI) on the four-hour map is declining from overbought situations last week, which suggests the current withdrawal could extend into Asian trading hours.
The RSI is also overbought on the diurnal map analogous to early September before a price correction passed.
For now, immediate support is seen at the 50- period moving normal on the four-hour map, which is at$. Short- term volatility could remain elevated as pointers show a stalemate between buyers and merchandisers.

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