Bitcoin Limited to $50K-$55K Resistance as Momentum Slows

Bitcoin Limited to K-K Resistance as Momentum Slows
Bitcoin (BTC) sellers remain active despite signs of short-term support on the charts.The cryptocurrency was trading around its 200-day moving average, currently at $46,000, and is roughly flat over the past week. Upside appears to be limited given strong resistance between $50,000-$55,000.On the daily chart, bitcoin registered a downside exhaustion signal, which suggests a short-term price bounce is likely. The relative strength index (RSI) is also oversold, which typically preceded price rises similar to what occurred in late September.Still, the loss of upside momentum on the weekly chart is concerning. Multiple failed attempts at an all-time price high near $69,000…