BTC Rebounds! Bullish Surge or Bearish Trap?
GM, BTC is showing a bit of bullish momentum this morning. The Fear and Greed Index is at 46 fear, while the Stoch RSI is starting to exit the oversold zone, indicating a possible retest of the 64K area soon.
However, the potential for a market dump isn't over. On the weekly timeframe, there's a chance for a double top pattern, which could drop BTC to the orange zone of 56507 - 53046, or in the worst case, to the red zone of 50553 - 48940.
It's deep, but we must hope for the best and prepare for the worst in the market.
Stay safe, keep calm, always manage your risk, and that's it for today's crypto update.
I'm Akki, one chart salute.
However, the potential for a market dump isn't over. On the weekly timeframe, there's a chance for a double top pattern, which could drop BTC to the orange zone of 56507 - 53046, or in the worst case, to the red zone of 50553 - 48940.
It's deep, but we must hope for the best and prepare for the worst in the market.
Stay safe, keep calm, always manage your risk, and that's it for today's crypto update.
I'm Akki, one chart salute.
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