Bitcoin Price Analysis: BTC Reached Oversold, But Bottom Might Not Be in Yet

In an indecisive spot market, the low liquidity in the order book allows the aggressive traders to take control, leading to unexpected volatility. Currently, the futures market may see more liquidations before any price recovery.

Technical Analysis

Daily Timeframe

The image below shows that bitcoin is in a strong downtrend, and the bears are in charge. However, we’re in a zone that can hold the price for a few days or even weeks. Additionally, the RSI indicator, which helps us gauge the price momentum (currently