Whether the price rebounds or falls may depend on Bitcoin’s continued retesting of the “bull market support band.” This band is an important trend indicator defined by the asset's 20-week simple moving average (SMA) and 21-week exponential moving average (EMA). This band often acted as support for the price during previous uptrends and is currently in the $61,100 to $62,900 range. A pullback from this band would reinvigorate the uptrend from the September lows towards the target, but a decisive break below this could jeopardize the entire recovery. It is possible that there will be more weeks where the stock drops below $10,000.
