🔻 Bitcoin Falls Back Below $57,000 – What’s Happening? 🔻

After briefly reaching $58K, $BTC has dropped to $56,800. Several key technical indicators suggest weakness in the near term:

🔻RSI at 41: A bearish signal.
🔻Fear & Greed Index at 29: Approaching "Extreme Fear."
🔻SMA & EMA: Positioned above the current price, reinforcing downward pressure.
🔻MACD & AO: Both indicate weak momentum.

🔻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? 🌐

#RSI #FearAndGreedIndex #MACD #ATR