Bitcoin Stabilizes Around $46K After Selloff; Resistance at $50K

  • The relative strength index (RSI) on the four-hour chart is the most oversold since the August 6 breakout above $42,000. This could encourage buyers to return around current support levels.
  • However, upside appears to be limited as the RSI on the daily chart is declining from overbought levels last month.
  • A lower price high from April is likely as volatility returns this month, limiting buyer strength in the aftermath of Tuesday’s selloff.

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