đ» Bitcoin Falls Back Below $57,000 â Whatâs Happening? đ»
After briefly reaching $58K,
$BTC has dropped to $56,800. Several key technical indicators suggest weakness in the near term:
đ»RSI at 41: A bearish signal.
đ»Fear & Greed Index at 29: Approaching "Extreme Fear."
đ»SMA & EMA: Positioned above the current price, reinforcing downward pressure.
đ»MACD & AO: Both indicate weak momentum.
đ»ATR: shows increased volatility.
The broader stock market downturn is adding pressure on Bitcoin. However, the crypto market remains dynamic, and quick recoveries are possible, as we saw recently.
Will
#Bitcoin attempt another rebound, or are we in for more turbulence? đ
#RSI #FearAndGreedIndex #MACD #ATR