Bitcoin Rebound Slows Amidst Overbought Conditions and Consolidation

The crypto market is experiencing a short-term secondary rebound in Bitcoin (BTC), with lows steadily rising and buying support consistently present below, according to Mr. Coin's analysis.

The daily chart shows a relatively strong recovery, but the upward momentum has slowed as the price reaches the previous resistance zone, entering the overbought area.

Mr. Coin notes that the ascending channel on the 4-hour cycle remains intact, with every small pullback quickly recovered, but MACD bullish momentum has begun to weaken and RSI is flat at a high level, indicating it will be hard for the price action to continue a unilateral surge.

In the short term, after a quick surge testing the 65,279 high, the market entered a consolidation phase, and short-term indicators are also at a high level. To break upward further requires new incremental capital inflows; if volume doesn’t follow, a short-term correction is likely.