#BITCOIN : Crypto BullRun Starting ⁉️
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Since Sunday, significant buy orders have driven momentum, breaking above $62,000. However, a recent bearish breakout below the 236 FIB level suggests caution.
♦️ Key Levels to Watch:
1. $62,000: Crucial for a bullish retest.
2. $61,800: Vital support level.
3. $63,500: Potential target if bullish momentum continues.
♦️ Market Sentiment
- Volatility: Severe, with volume nearing $23 billion.
- Concerns: Selling pressure from the German government and insufficient open interest cast doubt on sustained bullish momentum.
♦️ Altcoin Performance:
Most altcoins are positively correlated with Bitcoin, with ZK, LTC, and FET performing well.
♦️ External Factors:
Upcoming major economic news could impact market volatility.
♦️ Conclusion:
While momentum is positive, external pressures and market signals require cautious monitoring of key levels and sentiment indicators.
