Bitcoin (BTC) held support around $56,000 over the weekend and was trading around $58,700 at the time of writing. The next resistance level around $60,000 is within reach. The relative strength index (RSI) is now overbought on the hourly chart, although not as extreme as May 1 or April 14 which preceded price declines. Bitcoin is holding support at the 100-period moving average on the hourly chart. The moving average has been sloping upwards for about a week which points to an improving short-term trend. On the daily chart, bitcoin is also above the 50-day and 100-day moving averages and is not yet overbought. ... (full story)