🔸Bitcoin Still Struggling to Recover to $100K – What’s Next?
🔻 Bitcoin is still struggling to recover. After dropping to $92,000, as predicted in the analysis of the previous days, BTC has gained about 5% but is still in the risk zone. Let’s take a look at the key data and what to expect from the market.
🔻Current Market Indicators
🔹 Price: Bitcoin is currently trading at $98,456.90 with the 200-day moving average (MA 200) acting as resistance.
🔹 RSI: It has moved out of the oversold zone, but there is a risk of another decline if buying volume does not increase.
🔹 Support: The previous support at $92,000, formed with the help of the 50-day MA, may not be enough in the future.
🔹 Market Sentiment:
🔹 Fear and Greed Index: At 73, indicating greed, but still bearish overall.
🔹 MACD Histogram: Showing decreasing selling pressure, but the Average Directional Index (ADX) is showing a downtrend at 33.62.
🔹 Concerns🔹
🔹 Bearish Crossover: A 20-MA dip below the 50-MA and100-MA 1 reply
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