Bitcoin rebounded from a multi-week low on Tuesday, as markets awaited the latest consumer confidence report in the United States. The latest figures from the Conference Board are expected to show a slight decline, with a reading of 105.9 in September. This will be down from 106.1 the month prior.
Bitcoin
Bitcoin was back in the green on Tuesday, as its price rebounded from a multi-week low during yesterday’s session.
BTC/USD peaked at $26,421.51 earlier today, which comes following a low of $26,011.47 the day prior.
Monday’s low saw the world’s largest cryptocurrency trade at its weakest point since September 13, after dropping below $25,800.
From the chart, it appears that the rebound in price came as a result of the relative strength index (RSI), finding a floor of its own at 45.00.
As of writing this, price strength is now tracking at 45.84, with the next visible point of resistance at the 55.00 mark.
Should bulls reach the 55.00 level, there is a strong possibility that BTC
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