Every second you think about what's next for #Bitcoin, you can spend with your family.
Let us do it for you, a complete analysis of $BTC price action🧵👇
The middaily chart has come back on a bullish track as #Bitcoin is now consolidating near the $25k area of resistance. The HTF Trailer from BirbicatorPRO is tracking reliable trend breakouts, has signaled an upward trend break. The HTF Stop level is now defined at $23538.
It seems that $BTC is willing to climb higher. As long as the candlesticks continue to close above $23500, the bulls are in charge with better odds of continuing higher.
Levels of interest: $23935, $21547, $20163, $18896, $16542
This is the best time to find out what is happening with #Bitcoin and what can be done to make the most of its moves🧵👇
1/ Let's kick off with a weekly chart!
From the long-term technical standpoint, $BTC is presently trading above the most critical 200-day moving average, which until the recent breakout, represented the bear market trend. Now the price broke and got over this bearish trend.
So,
2/ it is constructive for the new emergent bull market burst.
However, $BTC is still trading at a 66% drawdown measured from the 2021 peak.
Until the $25600 resistance level is reclaimed, BTC may face more headwinds.
Want to know more about current #crypto market sentiment?
Let's dig into it...👇🧵
At 50 points on the scale, the fear and greed index remains in the neutral mode. Traders will often suffer from different types of behavioral biases. Some of them include loss aversion bias, fear of missing out, representativeness bias, misinterpretation bias, regret bias, etc.
In aggregation, they may empower new emerging trends to continue. Hence, the present sentiment can be associated with traders starting to realize, that they might have missed out on the $BTC market bottom. It will encourage them to rush and make many errors while trading.