COINPEDIA

BTC price flips into a bearish trap

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In the early hours, there was a decent climb up the curve where the price propelled from $36500 to $37500. Currently, the trend has reversed and the movement is approaching $3500 and below. Earlier the price was sailing at $37700 mark, but unexpectedly tangles down. The buying pressure is seen intensely figuring. Also, the RSI is nearing 30 and might fall below, making BTC overbought so might it dip near $34000.

Resistance level is at $37225
Support level is at $36601

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