**Bitcoin: Ready to Fly or Freefall?**
Bitcoin is on the rise, but it hasn't set a new record yet. Why? Sellers are still holding on to their last line of defense. š
**Technical Analysis**
- **Daily Chart:** Bitcoin has just passed the $64K level and the 200-day moving average. This makes the chances of Bitcoin setting a new record even greater.
- **4-Hour Chart:** There's a bearish signal! Bitcoin is making a rising wedge pattern in the $69K resistance zone. The RSI is also giving a bearish divergence signal. But don't worry, this might just be a temporary correction.
**Sentiment Analysis**
- **CME Open Interest:** Investors are increasingly optimistic that Bitcoin will fly high. But be careful, excessive optimism can backfire. Open interest is down, meaning investors are more confident in the direction of Bitcoin's price without the need for much hedging.
What do you think? Will Bitcoin set a new record or will it actually freefall? Let's discuss in the comments column! š
