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  • BTC/USD bulls were finally able to take charge of the market this Tuesday.
  • The RSI indicator crept up from 32.47 to 34.88, following bullish price action.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD managed to bounce up from the $7,935.15 to re-enter the $8,000 zone and the downward channel formation. The asset is currently trading for $8,028, while the RSI indicator crept up from 32.47 to 34.88. This followed three exceedingly bearish days where BTC/USD crashed from $9,158.55 to $7,935.15. The MACD indicates increasing bearish momentum, while the Elliott Oscillator has three consecutive red sessions, which is a testament to how overwhelmingly bearish the market has been before this Tuesday. 
 

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