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As you can see, BTC is at an extreme fear level but is in a price recovery position. Based on the 1-hour time frame, BTC appears to be bouncing upward. The Bollinger Bands, EMA, and MA indicators all show the same. Fibonacci also indicates an oversold point and has identified resistance levels where a downward trend may occur. According to Elliott Wave analysis, the current price is at the bottom point to start a new wave upward. If you draw a line and pattern symbols, the breakout point has been breached.
So what are you waiting for?
Will BTC break $80,000 this week or even higher? Like this post if you agree.
t#WhenWillBTCRebound? #StrategyBitcoinPositionTurnsRed