2022-01-22 17:21:46
Bitcoin price falls to $34K as Bitcoin RSI reaches most 'oversold' since March 2020 crypto crash
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it fell through $35,000 during the first half of Saturday.
With few silver linings available for the Crypto bulls, lower weekend volume was poised to deliver some classic erratic moves after Bitcoin lost $40,000 support on Friday.
While some, including El Salvador, made the most of the new lower levels, others voiced concern that despite the drop, pressure still remained on bulls.
"Crazy part is open interest still hasn't flushed,"Crypto trader and analyst William Clemente summarized, one of many market participants noting that derivatives traders are still attempting to fight the trend.
"After all this carnage and absolute state of panic funding somehow isn't giga negative, futs aren't backwarded and OI barely went down. Interesting times. And with 'interesting' I mean poverty," popular Twitter account Byzantine General additionally quipped.
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https://cointelegraph.com/news/btc-price-falls-to-34k-as-bitcoin-rsi-reaches-most-oversold-since-march-2020-crash
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