let's see what Btc wants to do...where it will go..
đ1. Key Levels
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Resistance:
The price reached a high of 66,450 before reversing.
Above that, there is a notable resistance near 67,147, indicating strong sellers around that zone.
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Support:
A critical support level is at 61,965 where the price is currently sitting.
There is another support at 56,924, which could be a strong lower target if the price breaks further down.
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2. Price Action
The price made a recent high at 66,450 and faced a sharp sell-off, falling down to its current level of 61,965.
The overall trend in the past few days shows a clear downtrend, as the price is making lower highs and lower lows.
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3. RSI (Relative Strength Index)
The RSI is currently at 33.3, which indicates the market is approaching the oversold territory (below 30 is considered oversold).
This suggests that a potential bounce back or relief rally could be imminent as buyers might step in soon.
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4. Next Move
Bearish Scenario:đ„đ„
If the price breaks below 61,965, the next immediate support could be 56,924. This would be a continuation of the downtrend with further selling pressure.
Watch out for volume spikes during this drop to confirm strong selling momentum.
Bullish Scenario:đ„đ„
If the price holds at 61,965 and RSI continues to recover, a rebound could lead the price back toward the resistance at 64,092.
A break above 64,092 would confirm bullish momentum and could see the price revisiting 66,450.
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5. Conclusion:
In the short term, watch for support at 61,965. A break below this would suggest more downside, while holding this level may trigger a bounce toward 64,092 or higher.
The oversold RSI hints at a potential reversal or relief rally soon, but confirmation would be needed with stronger buying volumes.#BinanceLaunchpoolHMSTR #IRANIANPRESIDENT #israeliranconflict #BTCUptober $BTC $ETH $SOL
