Technical Analysis: Bitcoin Near Strong Support Area

🔍 Analysis:

Bitcoin is currently trading at levels of $111,800 – $112,300 after the recent drop, and it is close to a strong support area.

The RSI indicator shows a state of nearing oversold conditions.

Potential bullish crossover on the MACD.

The Bollinger Bands range has started to narrow → we may see strong movement soon.

📌 Conclusion:

If Bitcoin holds this support, we may witness a rebound towards $115,000. However, breaking the support could open the way to $110,500.

💬 Do you expect a rebound or a break of this support?