#BTCRebound

Bitcoin (BTC) has recently entered oversold territory, with its Relative Strength Index (RSI) dropping below 30—levels not seen since August 2024. Historically, such conditions have preceded significant price rebounds. For instance, in August 2024, BTC surged by 33% from $49,000 to $64,000 within two weeks following a similar RSI reading .

As of now, Bitcoin is trading at approximately $88,260, reflecting a modest increase of about 1.18% over the past 24 hours. The price has fluctuated between an intraday low of $86,639 and a high of $88,542.

Analysts are divided on the immediate outlook. Some anticipate a potential rally towards the $110,000–$115,000 range if the oversold conditions prompt a rebound similar to past patterns . Conversely, others caution that Bitcoin might still face downward pressure, possibly testing support levels around $77,000, especially considering that a typical 30% correction in bull markets hasn't been fully realized yet .

Investors are advised to monitor key technical indicators and market developments closely to assess potential trading opportunities.