Furthermore, a bullish breakout from the overhead resistance of $33000 should fire an early signal for a recovery rally.
The BTC/USDT pair shows a range-bound rally in the weekly time frame chart.
The BTC price triggered a new bear cycle after marking a New All-time High of $68789 on November 10th, 2021.
Along with $33000 support, the BTC price hits another crucial technical support 200-day EMA, strengthening the demand pressure from the downside.