BTC Price Holds $90K as Oversold Signal Hints at Potential Short Squeeze: Crypto Daybook Americas
By Omkar Godbole (All times ET unless indicated otherwise)
The crypto market remains choppy, with the CoinDesk 20 Index (CD20) little changed on a 24-hour basis and the bitcoin price consolidating above $90,000. Sounds boring, right?
But this price action actually validates the oversold conditions signaled by the relative strength index (RSI) on Tuesday, when BTC first explored lows under $90,000. On the same day, CoinDesk flagged that the RSI reading needs validation from those signature doji candles — the ones with lower wicks — that tell you sellers might be losing their grip.
Guess what? Those clues showed up in the form of back-to-back daily candles with long lower wicks (Check the TA section), signaling bears’…
