Bitcoin Price Tests Crucial Bollinger Bands Level

Bitcoin’s price is facing a critical juncture as it approaches the middle line of its Bollinger Bands indicator on the daily chart, marking a potential turning point in its short-term trajectory. The key level to watch is $83,368, which represents the middle band of the Bollinger Bands. After experiencing a downward trend, Bitcoin is currently attempting to rebound, hovering just below this threshold. If it manages to surpass this middle band, a bullish momentum might become evident. However, if Bitcoin remains trapped below $83,368, bearish sentiment could continue to dominate.