The Relative Strength Index (RSI) and the Awesome Oscillator (AO) on the daily chart are below their respective mean levels of 50 and zero. If bulls are indeed making a comeback, then both momentum indicators must maintain their positions above their respective mean levels.
If bullish sentiment prevails and the overall cryptocurrency market shows optimism, BTC may extend its rally by 6% from $67,147 to retest its previous resistance level of $71,280.
BTC/USDT 1-day chart
However, if Bitcoin price breaks and closes below its daily support level of $60,800, the bullish thesis could be invalidated, leading to a 4% crash to its weekly support level of $58,375.