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Bitcoin Eyeing $78K? Key Levels to Watch Now

Bitcoin is currently trading at $83,880, holding strong support at $83,500. 

However, BTC appears oversold, lacking significant buying momentum, which calls for caution in the market.

  • Key Levels to Watch:

    • If the 4-hour candle closes below $83,200, BTC could see a further decline toward the $78,000 zone.
    • A 4-hour close above $84,500 may trigger a bullish rebound.

  • RSI Analysis:

    • 1-hour RSI: 27 (oversold zone)
    • 4-hour RSI: 33 (near oversold)

Despite being in oversold territory, BTC needs stronger buying pressure to confirm an upward move.

Stay cautious and monitor these levels closely.

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