Bitcoin holds support resistance around $60.000

The largest crypto currency’s uptrend continued to slow, with a support at $50.000 and resistance around $60.000.


This continuing uptrend in BTC remains whole, with a support around $50.000. Its upside momentum though still continues to slow as Bitcoin consolidates beneath the $60.000 resistance level.


The daily RSI (Relative Strength Index) is back in its neutral ground after reaching overbought levels earlier this month.


Previous RSI movements from overbought to neutral ones lead to price recoveries sideways with the 50-day volume weighted moving average.