Bitcoin Oversold Near $46K Support; Resistance at $55K

Bitcoin Oversold Near K Support; Resistance at K
Bitcoin (BTC) continues to hold support above $46,000, which is near its 200-day moving average. The cryptocurrency could see a brief price bounce toward $55,000 if buyers react to oversold signals on the charts.BTC was changing hands around $47,900 at press time and has traded in a tight trading range over the past week.Price momentum is starting to turn positive on the daily chart for the first time since October, which preceded a price recovery. This time, however, the uptrend is slowing on the weekly chart, which means upside could be limited beyond $55,000 to $60,000.The relative strength index (RSI)…