Bitcoin Eyes Bottom After 50-Day Low Below $7K
Bitcoin (BTC) prices dropped to a 50-day low of $6,630 earlier today, but there is a glimmer of good news for the bulls, which is that the cryptocurrency finally appears to be nearing a bottom.
To start with, BTC tends to reverse course every time the relative strength index (RSI) drops to or below 30.00, according to historical data. As of writing, the relative strength index is close to that mark, at 32.00. BTC currently can be bought on Coinbase for ·$6,711.46.