Bitcoin(BTC) - Breaking Down From Bullish Channel (Daily Update)

Trice is hovering near the 100 EMA and the lower side of the trending channel, suggesting a potential weakness. Despite a recent small bounce, the Fear & Greed Index shows a greedy market, hinting that the bullish sentiment may not hold for long. This scenario, coupled with an overbought market, raises the possibility of a short squeeze or even a continuous movement to lower zones here.

Weekly Candles are in favour for bears and same goes for daily candles, which still remain below $38K and also $40K, which both work as some sort of "physiological resistance."

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