Is Bitcoin Facing an Imminent Correction, Especially with Rising Greed?
The price of Bitcoin has risen to $88,500, boosting optimism among investors, with some predicting it could reach $159,000.
However, the platform 'Santiment' warned that this greed could lead to a correction, as markets tend to move against the prevailing trend.
The bullish wave halted at $89,000 due to strong resistance, and the Relative Strength Index (RSI) has entered the overbought territory, increasing the likelihood of a correction.
Additionally, whales have begun selling over 20,000 Bitcoin worth $1.8 billion, which could put pressure on the price.
The price of Bitcoin has risen to $88,500, boosting optimism among investors, with some predicting it could reach $159,000.
However, the platform 'Santiment' warned that this greed could lead to a correction, as markets tend to move against the prevailing trend.
The bullish wave halted at $89,000 due to strong resistance, and the Relative Strength Index (RSI) has entered the overbought territory, increasing the likelihood of a correction.
Additionally, whales have begun selling over 20,000 Bitcoin worth $1.8 billion, which could put pressure on the price.