On the intraday chart, Bitcoin appears flat after plummeting below $9k over the past 24 hours. Prior to this, the BTC price was seen drawing a winning streak for two days straight. However, as we enter the halving month, which was waited for the longest time now in order to see a massive price pump, a price accumulation now will be betraying. At this trading zone, $8.7k is the major support to watch out for, while, $9k followed by $9.2k, is the major resistance.
The 20-day Bollinger Bands are seen widening, which means that the price trend is likely to hit either of the extremities, which we believe will hold a positive crossover as per the current momentum.
The technical indicators are drawing a mixed picture as the MACD holds a slight bullish crossover yet appears flat as there happens to be no steady direction alongside the RSI of Bitcoin lies around 56.90 with no trading extremities at present.
