Will BTC have another opportunity to get in below 60,000?
It's probably very difficult now.
A long-awaited bullish candle on the daily chart has instantly pulled the Fear and Greed Index back into the neutral zone, and the market sentiment has changed accordingly. Some people are saying the bull market is here, and it’s about to take off 😂
BTC has adjusted for 144 days, nearly 5 months, during which there were three opportunities to get in below 60,000.
In the chart pattern, there is a downward-sloping megaphone shape, similar to an ascending flag, which is essentially a bearish trap. This kind of pattern mostly appears during the consolidation phase of an upward trend, indicating that the future trend is still likely to rise.
If the market effectively breaks through the resistance line upwards, with the current position around 70,500, it can be seen as a final confirmation of the end of the adjustment.
Let's wait and see!