BTC fell below critical support levels and marked a local low of $25,166. The fall was accompanied by high liquidations.
Bitcoin is currently trading at around $26,435, representing a 5% rise from its low, as short-term retail traders have begun buying Bitcoin. The RSI is moving up and indicates growing momentum.
🤔 Every time the RSI tested the green level, BTC reacted with an increase of at least 40%. If this happens again, Bitcoin could start to rise. However, the supply zone between $27,000 and $29,000 is a more conservative target. This is an area to watch as the market is still awaiting positive catalysts for growth.
