#bitcoin recently retested the key trendline but faced rejection, leading to a fresh lower low. However, today’s price action suggests that the heavy selling pressure might be cooling off. We could see $BTC consolidating sideways for a while as the market seeks direction for the next significant move.
Bitcoin is holding above an immediate support zone, and the selling momentum appears to be weakening as RSI is oversold on lower timeframes. If this support holds, we might see range-bound trading between support and resistance before either a relief bounce or further downside.
