Today, #BTC followed the downward trend presented in yesterday's RSI, leaving the 98.9K #USDT range to 95.4 #USDT during the day, where it found its new support level. During the following 14 hours, its RSI recovered, leaving the critical zone below 30 points, and now it is sailing between 43 (its last high point of the day) and 37 points. The EMA lines on the 1h chart confirmed the reversal to a downtrend.
However, if we see an increase in purchasing volume, and the RSI exceeds 50 points, we could see a new upward reversal, which could represent a price increase towards the 99k USDT range, or above the resistance level of 99.4 K USDT.
The next 24 hours will dictate where the price will go. If the support level is broken, we can expect a further correction to the 94K level or lower.
Its 4-hour chart maintains a bearish trend scenario, with its RSI falling below the 50-point level. The distance between the bearish and bullish lines has not changed significantly.
What do you think? Will we see more decapitalization, with whales gaining control?