BTCUSD Hits 100K, but Is Correction Looming?
Good morning, crypto enthusiasts! BTC finally hit the long-awaited 100K milestone, reaching as high as 104K on some exchanges. However, this morning saw a significant drop, breaking through our red zone at 94K-93K.
The fear and greed index has dropped to 72, now in the greed zone. On the H4 timeframe, the stochastic RSI is at 39 and heading toward the oversold area. Looking at the Daily timeframe, BTC has a big chance of continuing its correction, with potential targets in the 84K range, or pushing the fear and greed index toward the neutral zone first.
Currently, there’s no clear sign of another pump for BTC, and even if it happens, it might only retest 100K within our green zone.
Stay safe, avoid FOMO, and always manage your risk. That’s all for today’s crypto update. Akki signing off, one chart at a time. Have a nice day and stay SAFU!
The fear and greed index has dropped to 72, now in the greed zone. On the H4 timeframe, the stochastic RSI is at 39 and heading toward the oversold area. Looking at the Daily timeframe, BTC has a big chance of continuing its correction, with potential targets in the 84K range, or pushing the fear and greed index toward the neutral zone first.
Currently, there’s no clear sign of another pump for BTC, and even if it happens, it might only retest 100K within our green zone.
Stay safe, avoid FOMO, and always manage your risk. That’s all for today’s crypto update. Akki signing off, one chart at a time. Have a nice day and stay SAFU!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.