Bitcoin intraday - under pressure while below 78K
Price is trading below its 20 and 50 EMA.
Open Interest is low. Spot and futures volume are weak.
Technical indicators show RSI is oversold, a bounce is possible, but we need confirmation from the MACD.
Fear & Greed index is at 27 — indicating fear.
The main scenario - as long as we stay below 78.2K, a drop to 76K is likely.
The alternative scenario, breaking above 78.2K will send the price to 80K.
#BTC $BTC
Price is trading below its 20 and 50 EMA.
Open Interest is low. Spot and futures volume are weak.
Technical indicators show RSI is oversold, a bounce is possible, but we need confirmation from the MACD.
Fear & Greed index is at 27 — indicating fear.
The main scenario - as long as we stay below 78.2K, a drop to 76K is likely.
The alternative scenario, breaking above 78.2K will send the price to 80K.
#BTC $BTC