BTC/USDT Daily Chart.
The KST indicator on the daily chart shows that a reversal will soon occur for BTC. The last time the indicator gave a bearish crossing signal was at the beginning of last June, and now the indicator will reverse to give a bullish signal.
If BTC manages to penetrate 62K and then forms an HL in the 60K area, and then continues to spike to penetrate the price of 62K again, then more or less BTC will create an inverted head and shoulders pattern, which will confirm the continuation to 67K.
If this happens in the near future, it could mean that currently BTC has reached the bottom, plus the fear and greed index currently states "fear" at number 27 which indicates fatigue and capitulation of market players, and BTC is in the Greed 70+ area at the beginning of last June, which is when the KST indicator started giving a bearish crossing signal.
Currently the daily KST indicator has given a reversal signal, no one knows when that will happen, but historically the BTC or Crypto market at large experienced a "Summer lull" where prices moved down or sideways from early June to August/September, and It is possible that because we have experienced a dump since June until now, the market may move sideways or there will be a slight increase until the end of August.
Thanks for readingâš
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