Technical analysis by Tera_kill about Symbol BTC: Buy recommendation (7/31/2024)

Several major companies have announced the acceptance of Bitcoin as a payment method, which could have a positive long-term impact. The RSI 14 is at 38.96, indicating an oversold market that may see a slight rebound in the short term. BTCUSDT is fluctuating within a horizontal channel, with selling pressure stronger than buying pressure. If the price breaks the support level of $64,000, the downtrend will likely intensify. If BTCUSDT breaks and holds above the resistance level of $70,000, the price could continue to rise and test higher resistance levels.