Bitcoin: Between Resistances and Buying Opportunities

After a series of relentless fluctuations, the crypto fear and greed index is back in neutral territory. This return to balance after weeks of tension indicates a relative stabilization of the market.

The crypto fear and greed index has returned to neutral territory after a series of relentless fluctuations. This return to balance indicates a relative stabilization of the market after weeks of tension. However, this calm could quickly dissipate, paving the way for unexpected price movements. In this context, analyzing current resistances and technical indicators is crucial to anticipate Bitcoin’s next moves.

Bitcoin: between resistances and buying opportunities

The famous bitcoin, after having tested several resistances – including one at $64,000, is facing a delicate situation. The recent fluctuations between 66.5k and 60k have not caused an investor panic, but selling pressure remains palpable.

Technical indicators are clear: bitcoin is navigating troubled waters, with an RSI showing a neutral reading of 52, and an OBV betraying stable sales over the past two weeks, despite a slight recovery.

For thrill-seekers, the zone of 58k to 60k dollars could well become a real eldorado for buyers. Here are three key points to watch:

Crypto market: towards a recovery or a pullback?

On the side of the crypto market in general, the trends observed on the dominance of USDT deserve special attention. Traditionally, an increase in Tether’s dominance, a company that has just celebrated its 10th anniversary, signals that investors prefer to take refuge in stablecoins, a sign of distrust towards the market. Currently, this dominance has been increasing since March, reflecting intensified caution among investors.

However, the threshold of 5.79% constitutes a resistance, and a return to the downside could indicate a short-term recovery for Bitcoin and other top cryptos. If this resistance is broken, traders will need to remain vigilant and adjust their strategies according to future market trends. As noted in a recent report, a correction could well revive interest in long positions on BTC.

In summary, this analysis emphasizes that the return of the crypto Fear & Greed index to neutral territory offers a new market reading, reminding the importance of monitoring technical and sentimental data to anticipate upcoming fluctuations.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

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