Bitcoin starts new year on a down note, traders turn to technicals for direction
Bitcoin’s market value fell as much as 2.8% during Monday’s session to $45,715, as it was trading below its average price over the last 200 days
Meanwhile, technicians are also watching Bitcoin’s Relative Strength Index (RSI) which is nearing oversold territory
Bitcoin’s starting off the new year on a down note. The largest digital coin by market value fell as much as 2.8% during Monday’s session to $45,715. That means it was trading below its average price over the last 200 days, which currently stands at $47,923. The session is setting Bitcoin up for its seventh consecutive close below that threshold, which is watched closely by chartists.
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