#BTC BTCUSDT is currently trading around $61,216 after a sharp -17.83% drop over the past 5 days, reflecting heightened selling pressure amid broader market volatility. Key technical indicators point to oversold conditions but persistent downtrend risks.
Moving Averages
The 5-day MA stands at $76,297, well above the current price, confirming short-term bearish bias with price trading below all major MAs including 20-day ($87,413), 50-day ($88,723), 100-day ($97,883), and 200-day ($104,218).This alignment suggests sustained downward momentum unless a decisive breakout occurs above the 50-day MA
Fear & Greed Index
The Crypto Fear & Greed Index hovers in the "Fear" zone (around 40), driven by high volatility, declining momentum, and fearful social sentiment. Levels below 50 indicate oversold sentiment, historically creating buying opportunities when combined with technical rebounds
MACD Insights
MACD(12,26) shows a bearish signal at -833.9, with the histogram likely negative given the momentum divergence.� The indicator remains below the zero line, reinforcing sell pressure and potential for further downside if no bullish crossover emerges.
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