Bitcoin might be setting up for another shakeout.
The last major bottom came when sentiment was extremely bearish and
$BTC
was sitting below its key moving averages.
Now the opposite is happening.
Sentiment is heavily bullish as BTC approaches the $82K to $83K resistance zone.
If this becomes another trap, the EMA 20 around $71K is the first level I’d watch. Lose that, and the EMA 50 around $66K to $68K comes into play.
But if the EMA 20 holds, the bullish structure remains intact and fresh highs become the next focus.
The interesting part isn’t the sentiment.
It’s whether price confirms it.
The last major bottom came when sentiment was extremely bearish and
$BTC
was sitting below its key moving averages.
Now the opposite is happening.
Sentiment is heavily bullish as BTC approaches the $82K to $83K resistance zone.
If this becomes another trap, the EMA 20 around $71K is the first level I’d watch. Lose that, and the EMA 50 around $66K to $68K comes into play.
But if the EMA 20 holds, the bullish structure remains intact and fresh highs become the next focus.
The interesting part isn’t the sentiment.
It’s whether price confirms it.
