Bitcoin (BTC) is holding support above $XNUMX zero, albeit within a tight trading range.
The cryptocurrency has remained virtually flat over the last twenty-four hours, changing hands at the time of publication around €38, up three percent from last week.
Buyers are going to need to make a definite move above the €XNUMX resistance level to stop the medium-term downtrend in November.
For now, the Relative Strength Index (RSI) on the 4-hour chart is approaching overbought territory, which typically precedes a brief pullback in price. Adding to this, the downward sloping 4-period moving average on the XNUMX-hour chart could limit short-term cost gains.
However, on the daily chart, the RSI continues to rise from oversold levels, which means that buyers could continue to be active above the €35,000-€37,000 support zone. The wide range of holds suggests that sideways trading may persist this week, particularly given the lackluster momentum on the longer-term charts.