Bitcoin is recovering after falling below $30,000.
At the end of last week, #Bitcoin (BTC) reached $31,700, but by the weekend it had already fallen to $29,980. Whales and short-term investors were the most active sellers.
For the past few days, the cryptocurrency has been trading in a narrow range, periodically falling below $30,000 and rising above that level. On July 19, Bitcoin's daily trading volume was almost $94 billion.
On Tuesday, the Relative Strength Index (RSI) began to signal that BTC was oversold, and many pundits were betting on a quick reversal of positions.
Today, the RSI remains neutral, which means that the cryptocurrency has a high chance of holding a positive vector.
