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Risky If $59.4K Fails?
Market Snapshot
Bitcoin latest: $58,712 -1.06% today
24h Range: $57,813 → $59,460
BTC Dominance: 58.40
ETH/BTC: 0.0475 — BTC weakening, altcoins bleeding
Top searches right now: Is Bitcoin bottoming, BTC RSI divergence, Will $57.8K support hold, Bitcoin short squeeze, When will BTC hit 60K
1. Drop to $57.8K: Is Panic Selling Over, or Is $55K Next?
Low of $57,813 held for now. On the chart, MAs are bearish-aligned on the 4h and daily: MA5 $58,831 < MA10 $58,969 < MA30 $58,910. Price is below all of them. Bears in control.
Why could BTC recover? 3 reasons:
1. RSI Bullish Divergence: Daily RSI is 31.66 in oversold territory. Price made a new low at $57,813 but RSI did not break the previous low. Downward momentum weakening#GateCompletesDividendDistribution