- BTC’s oversold bounce from $50,000 support remains intact on the hourly chart, which fully retraced the near 15% selloff last week.
- Buyers are taking profit around $60,000 as upside momentum slows.
- The relative strength index (RSI) on the hourly chart is back in neutral territory, which occurred during previous support levels this week.
- Buyers will need to defend initial support around $57,000 and $58,000 to sustain the intraday uptrend.
Bitcoin traded in a tight range during Asian hours; resistance around $60K and support around $57K-$58K.