Crypto
Bitcoin Price Fluctuates Near $64,000 Amid Balance Between Buyers and Sellers
Bitcoin's price has been trading around $63,900 to $64,000 after recovering from a low of $63,199.
The cryptocurrency's latest price movement shows a balance between buyers and sellers, with bulls defending lower levels and sellers blocking strong moves above the $64,300 area.
According to the five-minute BTC chart analysis, Bitcoin had moved upwards to about $64,600 before experiencing selling pressure and falling to $63,199. After that, it rebounded towards $64,000, indicating a consolidation phase.
The Relative Strength Index or RSI is currently below 50, indicating that buyers do not have much power at this moment. The RSI is also far from the oversold area, suggesting there is still movement scope in both directions.