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BTCUSD Dec 23
The RSI has recovered significantly from the oversold levels at 22.22 last week to 77.77. As long as it sustains above 70, BTC could have the potential to close in on $8,000.
Due to the slightly overbought condition, Bitcoin could end up in a reversal in the near term. However, initial support is seen at $7,500 followed by the 100 SMA at 7,191 on the 4-hour chart and the 50 SMA at $7,064.
Due to the slightly overbought condition, Bitcoin could end up in a reversal in the near term. However, initial support is seen at $7,500 followed by the 100 SMA at 7,191 on the 4-hour chart and the 50 SMA at $7,064.
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