"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." — Warren Buffett
The market has been free of volatility for several days, and the Risk Signal has once again breached the 100 level, indicating that the market is looking for direction. Because of the anticipated approval of a Spot BTC ETF, the price of BTC has already erased all previous gains.
The price is still stuck below $26k, and the bulls have done little to change that in the last 24 hours. The good news is that there is no bearish selling pressure if that can be called good news.
BTC price has returned to its long-term range bound trend, coiling up around the $25.824k mark. A break north or south is the most likely effect of such a move. Multiple lower-price rejection candles at $25k suggest active accumulating at a discount.
We are not seeing either side build any significant strength; this move shows that bullish momentum and enthusiasm appear to be waning rather than strengthening.
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