Falling to $114,400 early on Friday, the Bitcoin price is now becoming oversold. Could the price continue to fall, or is the next big rally imminent?
The Bitcoin price has continued to track sideways and downwards since mid-July. A new local low earlier on Friday at $114,400 tagged the very bottom of the bull flag. The price is currently making its way back towards this point, and investors may be becoming nervous.
However, US trade deals are being settled, with US negotiating teams so far looking like they have come away with the better side of the bargain. A recent deal with South Korea included a $350 billion investment promise by Seoul into the US.
The good news on the US trade deals is having an effect on the US stock market, which made yet another all-time high on Thursday before falling back later in the day. If the stock market is going up, Bitcoin will be likely to follow.
All this said, the Bitcoin price is still under duress on Friday morning. Heavy sell pressur
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