“In a speculative market, what counts is imagination and not analysts.” - Benjamin Graham
BTC starts a new week with traders licking their wounds after a 10% snap crash. With little buying pressure over the past few days, the price has started a recovery wave from the $24.8k support zone. Most indicators are very oversold. This could imply some near-term upside with no intervening events for the RSI reset and a subsequent retest of the 24.5k support.
The risk signal plateauing at 100 as BTC falls back into the previous range means that we will have a slow bleed or consolidation period until a drastic change in demand.
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