BTC reached a daily high of $59,459 on the Bitstamp exchange.
The sharp increase during the Asian trading session led to an increase in the value of the BTC/USD pair by 1.5% at the time of publication of the article. At the same time, the pair rebounded from the classic “oversold” conditions.
This has been actively discussed by market participants, especially in the context of the relative strength index (RSI), which has reached its lowest level in the last ten months.
Bears in the Bitcoin market are putting up their last resistance.
According to the latest data from monitoring resource CoinGlass, liquidity at this key level is low, but at the time of writing it was increasing. However, most of it was eliminated during the daily growth.
Currently, the price of BTC is determined by the struggle for the 99-day and 200-day moving averages (MAs), between which the BTC/USD pair currently lies.
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