After experiencing a significant correction,

After experiencing a significant correction, Bitcoin’s price fell by approximately 15% from its recent all-time high of over $108,000 to around $92,000. Despite attempts to recover, the cryptocurrency has struggled to regain momentum. This has led to increased fear among investors, as indicated by the declining overall sentiment score on the Santiment platform.

However, this pessimism may actually

However, this pessimism may actually benefit Bitcoin’s future price movements, as the market tends to move against the expectations of retail traders. Additionally, a technical analysis suggests that Bitcoin may be approaching a potential “buy signal” on the 4-hour chart. The TD Sequential indicator, developed by Timothy Sohee, indicates that exhaustion may be nearing its end, potentially indicating a price rebound.

Nevertheless, the asset remains vulnerable

Nevertheless, the asset remains vulnerable to a sharp decline if the current support level between $97,041 and $93,806 fails to hold. Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of any entity or organization.

Source

Please follow and like us: