strong buy
Bitcoin Approaches Critical Correction Zone with Recovery Prospects
On May 24th, a target range of $98,000-$102,000 was identified as the minimum goal for a potential correction in the upward movement. Recently, this level was nearly reached, touching $100,300, indicating the target was achieved. For the first time since April, the fear/greed index entered 'fear' territory. Technically, a possibility remains for Bitcoin to dip to $90,000-$92,000, but this might contradict the expected movement timelines over the next three to six months. Such a decline could also negate the chance of reaching $120,000+, positioning the current range as a near-impervious ceiling in this cycle. Given that the minimum correction targets are fulfilled, there are good prospects for a recovery starting from current levels, approximately.
Source available for registered users Sign Up Free
AI Analysis
The recent achievement of the $98,000-$102,000 target range signifies a notable milestone in Bitcoin's recent upward trend. The entry into 'fear' on the index indicates a shift in market sentiment, wh...
AI Recommendation
Given the current technical and sentiment conditions, the prudent course of action would be to maintain a cautiously optimistic stance. It is advisable to hold onto existing positions while closely mo...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.