Yellow rectangle- support
Bitcoin is trading around $29,860. Price recently made a break out above resistance of $28,800-$29,000. Short-term conditions are overbought. There are increased chances of a pull back towards the break out area. Previous resistance is now support. The RSI is turning lower from overbought conditions. Price is vulnerable to move lower. A break below the yellow rectangle area would be a sign of weakness and will put the recent lows of $27,000-$26,600 in danger.
