Hey everyone! Today PrimeXBT will be offering another technical analysis overview of BTCUSD.
Over the past week, Bitcoin’s price has remained range-bound, which means that another volatile move might be in the making.
Bitcoin broke below the major support line seen on the chart. The price is now moving in a downward channel and will likely target its next major support zone in the near-term. From this level, it may surge until it reaches its next major resistance zone.
Additionally, BTC’s RSI is clearly oversold at the moment.
The support zone ~ $7100
Target zone ~ $7400
Market Cap $131 540 453 779 USD
Volume (24h) $18 690 232 485 USD
Circulating Supply 18 094 450 BTC
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