#BTC 🔥🔥🔥🔥
Despite a partial recovery today following positive news about a spot Bitcoin ETF from Hong Kong, Bitcoin's overall outlook remains unchanged.
The current upward movement lacks solid justification beyond speculative "To The Moon" sentiments. Miner profit-taking continues, with the correction yet to meet even the minimum targets, ruling out sustainable growth.
Any short-term uptick may trap bulls into unwarranted long positions. The fear and greed index remains high, indicating that the market remains overheated and resistant to cooling measures. Remember, what doesn't cool, eventually overheats and breaks...
#BTC #Bitcoin #bitcoinhalving $BTC
