Bitcoin (BTC) is deeply oversold on the daily chart, but upside appears limited as long-term momentum deteriorates. Initial support is between $27K-$30K.Read MoreFeedzy
On the weekly chart, the RSI is the most oversold since March 2020, which preceded a strong rally. This time, however, long-term momentum has deteriorated, suggesting limited upside beyond the upper $40,000-$45,000 resistance zone.
For now, a relief rally could be brief, especially given the strong break below $35,000 last week.
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