BTC may need to fall first before rising, five major signals warn of pullback risks!!

BTC investors have been eyeing the $100,000 mark, believing it is only a matter of time. However, the latest data and analysis have poured cold water on this optimism, indicating that BTC may first undergo a significant correction of 10-15%, dropping below $80,000, before slowly climbing back to $100,000. This sounds a bit concerning, but we still need to look into the specifics.

First, there is an index called the BTC Fear and Greed Index, which currently shows that everyone is in a state of "extreme greed," with a score as high as 83. This is not a good sign, as greed often causes people to lose their rationality and can lead to pitfalls. Even retail investors have started frantically searching for Bitcoin, which is clearly a sign of overheating.

Moreover, with the BTC price rising so much, investors are starting to cash in on profits. It is said that $5.42 billion has already been made, but this leads to increased selling pressure and a corresponding rise in selling risks. It’s like holding a hot potato; when it gets too hot, you want to throw it away quickly, and if everyone throws it, the price will plummet.

From a technical indicator perspective, the BTC TD Sequential indicator has also given a sell signal. Unless Bitcoin can close above $91,900 every day, this signal will not disappear. This means we may need to wait a bit longer to see if BTC can withstand this hurdle.

Additionally, the RSI indicator also shows that Bitcoin is currently in an "overbought" state, similar to a person who has eaten too much and needs to digest before they can eat more. Therefore, BTC needs to pull back a bit in order to continue rising.

Lastly, Bitcoin miners have also started to sell, perhaps feeling that the price is about right and it's time to take some profits. As a result, there are more Bitcoins on the market, and the price naturally comes down.