BTC was trading around $36,000 at press time and is down 6% over the past 24 hours. For now, upside remains limited beyond the $38,000-$40,000 resistance zone.
On the daily chart, downside exhaustion signals are starting to appear, similar to what occurred on Jan. 24, which preceded a 30% price jump. This time, however, the relative strength index (RSI) is not deeply oversold, which could delay a potential upswing in price.