🚨 BTC: Support Tested, Recovery Underway? 🚨

🔥

Key Observations:

1️⃣ Support Zone:

BTC found support around $96,280, a crucial level tested multiple times. Buyers are stepping in, signaling potential short-term stability.

2️⃣ Parabolic SAR:

The dots remain above the price, indicating bearish momentum is still active. A reversal is needed for confirmation of an upward trend.

3️⃣ RSI (Relative Strength Index):

RSI (6): 45.51

RSI (12 & 24): Hovering below 50, suggesting the market is still in a neutral-to-bearish phase but nearing oversold territory. This could attract buyers if momentum picks up.

4️⃣ MACD (Moving Average Convergence Divergence):

MACD remains negative (-23.83), reflecting bearish pressure. However, the histogram shows reduced selling momentum, hinting at a possible recovery in the short term.

5️⃣ Volume Spike:

The increased trading volume aligns with the bounce from support. Higher volume will be critical for breaking resistance near $96,750–$97,000.