Bitcoin Price Stabilizes Following Brush With 2018 Low as Search for Bottom ContinuesPublished 6 hours ago on June 25, 2018 By Sam Bourgi
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Bitcoin is back to trading above $6,100 after the cryptocurrency set a new bear-market low for 2018, triggering a partial relief rally Sunday afternoon. However, the search for an elusive bottom will likely continue as the breakdown of technical positions keep retail investors on the sidelines.
BTC/USD Price Levels
Bitcoin broke below $5,800 on Sunday, marking the lowest point of the year for the largest cryptocurrency by market cap. Depending on who you ask, BTC/USD values bottomed around $5,787 on major exchanges, surpassing the Feb. 6 swing low by around $60. The new low marked a nearly 71% reversal from the December high of almost $20,000.
The new low triggered an oversold signal on the Relative Strength Index (RSI), which later helped BTC values recover above $6,100. At the time of writing, BTC/USD was valued at $6,153.45.
