Bitcoin (BTC/USD) showed signs of resilience in today’s trading session, rebounding from recent lows and closing at $102,678, up 0.53% on the day. The rebound comes after a week of consistent downward pressure that pushed the price toward the lower Bollinger Band, near the $100,938 support level.

Technical Highlights:

• Price Movement: BTC hit an intraday low of $101,894 before bouncing back, with buyers stepping in near the lower Bollinger Band—a historically reactive zone.
• Bollinger Bands: Price is hovering just above the lower band, hinting at possible mean reversion toward the 20-day SMA at $105,446.
• RSI (14): Currently at 42.86, the Relative Strength Index remains below the neutral 50 line but is curling upward—potentially an early sign of bullish momentum returning.
• Volume: Trading volume remains moderate at 269, suggesting cautious buying interest amid recent volatility.

Market Outlook:

The broader trend remains uncertain, but the bounce from key support levels and the RSI uptick may indicate a short-term reversal. A decisive break above the $105,000 level (20-day SMA) could re-open the path toward the upper Bollinger Band near $109,954. However, failure to maintain support at $101,000 could invite fresh selling pressure.

Investor Sentiment:

Sentiment appears cautiously optimistic as traders watch for confirmation of a bottom. Macroeconomic conditions, particularly interest rate decisions and U.S. dollar strength, will also be crucial in influencing crypto market direction this week.

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Disclaimer: The above analysis is for informational purposes only and does not constitute investment advice. Always conduct your own research before making trading decisions.