mido-finance.com

Bitcoin buyers were very active in the weekend in the market. Bitcoin supporting was near 6% price raise that stood near the $36,000 resistance level. Therefore, Bitcoin, the cryptocurrency was trading around $34,000 support at time of this report. And also is down about 3% over the past 24 hours. The relative strength index on the four-hour graph registered an overbought signal on Sunday. which led up to a pullback to the current support zone.

The RSI is oversold on the hourly graph, showing further that the upward movement is probable to primary resistance at $36,000.

Bitcoin is keeping a series of higher lows from the June 22 shakeout around $29,000. This shows that Bitcoin buyers were able to protect rising support levels, although within a narrow range.

A breakout above $36,000 would produce an upside aim to $40,000 as momentum boost. T the moment, upside looks like narrow outside the month-long trading range given the downtrend since April.