Has BTC tested the oversold zone yet? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser
The rate of Bitcoin has risen by 0.40% over the last day.
On the hourly chart, Bitcoin started the day with the false breakout of the local resistance level $17,964. At the time of writing, the price is stuck in a range where $15,722 serves the support level.If the rate comes back to it, the fall may continue to the $15,000 zone. On the daily chart, the situation is bearish as the price could not keep the rise after yesterday's bullish candle. If the drop continues to $16,000, there are high chances to see the breakout of the recently formed support level at $15,632 soon.
From the midterm point of view, Bitcoin is on its way to the next support level at $13,880 if the bulls cannot seize the initiative soon. However, if a bounce back above the $18,00 zone happens, one can expect the test of the mirror level at $21,000.
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