๐ BTC/USDT Update: Support Zone Under Pressure
#ProjectCrypto
Bitcoin is currently trading at $114,776, marking a -2.85% decline in the last 24 hours. The price action has pulled BTC down from a 24h high of $118,879, testing a local support zone around $113,988, which could prove pivotal in the short term.
๐ง Key Technical Signals:
Stoch RSI is deeply oversold (5.01 / 3.65), suggesting selling pressure may be nearing exhaustion.
RSI sits at 31.17, hovering just above the oversold threshold.
Recent price action has formed a minor consolidation just above support โ indicating indecision and the possibility of either a short-term relief bounce or further breakdown.
โ ๏ธ Why This Zone Matters: The $113,900 โ $114,300 range has shown reactive buying interest before. A sustained break below could open doors toward deeper retracements. On the other hand, if bulls defend this level, we may see a quick rebound toward $115,800+.
๐งญ Strategy Insight: This is a zone where patience and discipline matter. Risk remains elevated. Waiting for confirmation (either reclaim of resistance or breakdown of support) is crucial for positioning smartly.
๐ Volatility is information โ not a trigger for panic.
Stick to your plan. Trade with intention.
