Here is a quick update on BTC in an hourly timeframe. We saw some dump coming in after the weekly close which was above the support level as expected. In this hourly timeframe, BTC made a support level and we can clearly see how perfectly it is bouncing back but will it sustain? Or will it get rejected from the 21 hourly MA which is a good resistance zone for BTC? Chart-wise, BTC looks good but there are so many things happening in the market that it is hard to just rely on the charts.
It is for certain that if BTC bounces back from the current level then BTC reaching 31.5k is possible. The rejection or a breakdown below the support level will be dangerous.