When Bitcoin is trending downward, one of the smartest things you can do is dive into technical analysis:
Support Levels 🛡️: Look for key support zones, like the 200-day moving average (MA) or previous price floors. These are levels where price has bounced in the past. If Bitcoin approaches or touches one of these and holds, it may signal a potential reversal.
Indicators like RSI 📊: The Relative Strength Index (RSI) can tell you if Bitcoin is oversold (typically when RSI is below 30). Oversold conditions often precede a bounce or recovery.
Volume Confirmation 📈: Watch for spikes in trading volume when the price hits these levels. Big volume often means stronger conviction — buyers stepping in can push BTC back up.
Trendlines & Patterns 📐: Look for chart patterns like a falling wedge, bullish divergence, or double bottom. These are often seen before a bounc$SOL $BTC #CryptoAdoption #TrumpVsPowell #BinanceHODLerHYPER #USStockDrop e.
Summary: Technical analysis acts like a radar — it doesn't predict perfectly, but it helps spot key zones where things might change direction. Combine signals for the best read.