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Bitcoin on the rebound this morning

Yesterday Bitcoin stalled ahead of 68k and repeatedly failed to rise above that level. The price action was sideways within a wider range defined by 64,750 to 67,600. That was covered in an update here at the time. Earlier today Bitcoin was trying to push below the 66k level, but the price action there showed support just underneath that level. You can see that, if you look at a chart of that price action today. It has now pushed higher from there and a short while ago it set a session high at 67,016. A few days ago I noted here; that BTC was heavily overbought and that could lead to a correction. Well, of course we sure got that on Tuesday evening, when the price slumped almost $10,000 from the top to the bottom. That has pushed the 14 day RSI back to around 75 this morning, which means it is not overbought anymore, albeit still close to being so. Bitcoin is currently trading at 66,825

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