Monday saw some fake moves in the market, with $BTC dropping to $66,500 overnight, followed by a slight recovery. Most top 100 altcoins remain in the red.
Fear and Greed Index: 70 (indicating greed)
Alt Season Index: 35 (not in alt season)
Long/Short Ratio: 49/51 (balanced but slightly favoring shorts)
Bitcoin Dominance: 58.41%
This local correction aligns with my previous analysis. The RSI is no longer overbought, and we're seeing a gradual increase in bullish volume. This opens a clear path for Bitcoin to test the $71K-$72K range in the near term.
Currently, the support zone has shifted to $65.5K, and holding this level is crucial to maintaining bullish sentiment. Keep an eye on how the market behaves around this zone for any potential upward momentum.
