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Bitcoin Bounces Off Session Lows to Trade Above 100-Hour MA
On Friday, the Bitcoin price bounced from the session lows of about $85,282 to trade at about $87,941 after the latest data. The BTC/USD trades within a slightly descending channel formation in the 60-minute chart. Friday’s rebound pushed the price of the pioneer cryptocurrency slightly above the 100-hour moving average line. As a result, Bitcoin is on the verge of entering the overbought levels of the 14-hour RSI. From a fundamental perspective, the BTC/USD trades during a relatively busy period in the U.S. market. On Thursday, the US consumer price index for November missed the expected (YoY) change of 3.1%, with ... (full story)
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