BTC/USD
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Though Bitcoin is the fifth best performer in the past seven days, it has continued to make new year-to-date lows. The SEC postponing the decision on the Bitcoin ETF did not go well with investors. The experts are divided whether the digital currency will slip further or will it bounce off the current levels. Let’s see what the charts forecast.
BTC/USD Trading picture chart
The BTC/USD pair gathered momentum on the downside after it broke below the critical support of $5,900. The RSI on the weekly chart has slipped into the oversold territory for the first time since early 2015. The previous dip into the oversold zone had proven to be a good buying point, as the markets then entered a prolonged bull phase.
The $3,000-$3,500 zone had previously acted as a support in mid-September 2017. Therefore, we anticipate a bounce from this zone this time too. If successful, we expect a retest of the breakdown levels of $5,900. Hence, we have been on the lookout to buy.
On the other hand, if the bears break below the support zone, the next major support is way lower at $2,000.
credits:https://cointelegraph.com/news/top-5-crypto-performers-overview-bsv-xem-trx-bnb-btc