''While I am impressed with the current recovery in Bitcoin $BTC, it should be noted that the series of lower highs and lower lows continues despite the halving, despite the ETf, despite the hype.''
Citing the hype of the current BTC price, it is true that BTC's price path is creating a lower bottom than the previous one and a lower peak than the previous one.
This also shows that BTC is in a downtrend, but the expectation of an increase in FED interest rates and the appearance of the ETH SPOT ETF is highly likely to be approved this July, so people's psychology 2 weeks ago is similar. The negative sentiment was at 32, but from the 16th until now the sentiment has increased positively to the current level of 61, showing that investors have switched to a greedy state.
As mentioned in the previous price analysis, the candlestick pattern is showing that the buying force is overwhelming the volume, but currently, the price line according to the candlestick pattern shows that many candlesticks have strong withdrawals, showing that the Price Action model is fakey. The current price line is just a temporary recovery to legitimize the price line and then decrease.
But with news that resonates with Fomo from the present, many things can happen that are difficult to predict. Maybe the price of BTC will increase sharply following the excitement if the ETH ETF is approved this July, pushing Fomo investors to buy strongly. than from current levels.
>>> This is a personal opinion and not investment advice, so readers should read it for reference and decide to invest the amount of money they can lose because investing in Crypto is inherently high risk. DYOR!
#Write2Win #binance #bitcoin #SHIB #ETH
