$4.6K: Bitcoin’s Price Revival Has a New Target

Bitcoin‘s (BTC) stalled recovery rally could kick off again if prices manage to beat new resistance above $4,600.

The leading cryptocurrency by market valuation picked up a bid after hitting 14-month lows near $4,000 on Wednesday, possibly due to record oversold conditions reported by the 14-day relative strength index (RSI).

The corrective rally, however, seems to have run out of steam as the cryptocurrency is currently trading at $4,460 on Bitstamp – down 3.78 percent from the high of $4,635 seen yesterday.

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