Bitcoin is currently trading near recent lows with oversold RSI, suggesting potential for a rebound. Price is below both 20-day and 50-day moving averages, indicating short-term weakness.
Current Market Position
BTC is trading at $121,937, down 0.62% in 24 hours. The RSI at 39 shows oversold conditions, which often precedes price bounces.
Support and Resistance Levels
Recent local lows around $120,895 provide strong support. Resistance sits near $124,034 from recent highs. Price is bouncing between these levels.
Moving Average Analysis
Price is below both 20-day ($122,724) and 50-day ($122,620) moving averages, suggesting short-term bearish momentum but potential for reversal.
Trading Strategy
Consider buying near support at $120,900 and selling near resistance at $124,000. Use stop-loss orders to manage risk.
Beginner Recommendations
Advice: buy
Buy Price: 120900 USDT
Sell Price: 124000 USDT
Key metrics
| Price | 121937.2100 USDT |
| 24h Change | 0.62% |
| RSI(14) | 39.26 |
| SMA20 / SMA50 | 122724.29 / 122619.62 |
| Daily Volatility | 1.75% |
| Sentiment | Neutral |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
