On Monday morning, BTC is currently at $63,688, rebounding +4.75% over the last 24 hours, climbing from a low of $60,758 all the way up to above $63,443. It’s down 13.79% over the past week, but this bullish candlestick at least gives the bulls a breather.
Trading volume is $37.6 billion, showing a strong rebound, which isn’t weak. The key point is that the fear index has plummeted to 8—this is an extreme level of fear historically, even lower than the last dip at 312. When the market is at its most pessimistic, it often presents a buying opportunity.
In the short term, the psychological level of $60,000 is strong support. If this rebound can hold in the $63,000~$64,000 range, the next resistance level will be around $66,000~$68,000. However, if we drop back to $60,000 and can’t hold that, we’ll need to watch $58,000~$59,000.
My take: A fear index of 8 is an extreme value, historically, after such levels, the likelihood of a rebound in the following 1-2 weeks is relatively high. But don’t chase the pump; wait for a pullback confirmation before making moves. Those with heavy positions shouldn’t cut losses now; we’re already near the floor.
#BTC #比特币 #MarketAnalysis
Trading volume is $37.6 billion, showing a strong rebound, which isn’t weak. The key point is that the fear index has plummeted to 8—this is an extreme level of fear historically, even lower than the last dip at 312. When the market is at its most pessimistic, it often presents a buying opportunity.
In the short term, the psychological level of $60,000 is strong support. If this rebound can hold in the $63,000~$64,000 range, the next resistance level will be around $66,000~$68,000. However, if we drop back to $60,000 and can’t hold that, we’ll need to watch $58,000~$59,000.
My take: A fear index of 8 is an extreme value, historically, after such levels, the likelihood of a rebound in the following 1-2 weeks is relatively high. But don’t chase the pump; wait for a pullback confirmation before making moves. Those with heavy positions shouldn’t cut losses now; we’re already near the floor.
#BTC #比特币 #MarketAnalysis