$BTC ๐ BTC/USDT โ Is Bitcoin Preparing for a Rebound?
Bitcoin recently touched a low of $116,900 and is now trading around $117,165 on the 15-minute chart. Hereโs a quick technical breakdown:
๐ RSI Levels (Momentum):
โข RSI(6): 36.63
โข RSI(12): 37.15
โข RSI(24): 41.23
These levels suggest BTC is near the oversold zone, which often precedes a short-term bounce.
๐ Bollinger Bands:
โข Lower Band (Support): $117,008 โ touched and bounced
โข Middle Band (Resistance): $117,490
โข Upper Band (Next Target): $117,971
๐ If BTC breaks above the middle band with solid volume, the next target is $118,200, which was the recent high.
๐ Volume Insight:
Weโre seeing increasing buy volume after a strong sell-off. This could indicate a short-term reversal forming.
โ ๏ธ Conclusion:
BTC is currently showing signs of recovery, but it needs to break above $117.5K with strong momentum to confirm further upside. Otherwise, it may range between $116.9K โ $117.5K before choosing direction.
๐ Monitor volume and RSI for breakout confirmation.
๐ก๏ธ Trade safe and always use proper risk management.
