BTC has entered a strong demand zone on monthly.
This is the region of confluence:
1. Long-term trendline.
2. 78.6% retracement region. Last bullish move also retraced around 78.6%.
3. Horizontal support region.
4. Weekly RSI is the lowest of all times.
It should bounce-back from this region- 19,900 - 13,200.
If this level is not retained, we may see it fall below 7,000.
This is the region of confluence:
1. Long-term trendline.
2. 78.6% retracement region. Last bullish move also retraced around 78.6%.
3. Horizontal support region.
4. Weekly RSI is the lowest of all times.
It should bounce-back from this region- 19,900 - 13,200.
If this level is not retained, we may see it fall below 7,000.