Orhan 
Bitcoin has slipped to $92,000, influenced by mounting selling pressure attributed to the Fear and Greed Index, which is currently at an “extreme greed” level. Additionally, the targeting of liquidity zones in the lower price ranges has exacerbated this downward movement. Outflows from ETFs today have further added to market uncertainty.
Let’s take a closer look at Bitcoin’s price structure and market dynamics.
Current Bitcoin Price Structure
Bitcoin is still maintaining a visible upward trend, with a critical support level at $92,400. However, if both the upward trend and this key support level are breached, a potential decline toward the $86,000-$85,000 range could be on the horizon.
4-Hour Bitcoin Chart and Liquidity Levels
A closer examination of the liquidity levels shows a significant accumulation above the $99,000 mark. This clustering of liquidity may indicate a positive sign for the market, as it reflects potential interest in a price recovery.
What’s Next for Bitcoin?
- Key Support and Resistance Zones:
- Support: $92,400
- Resistance: $99,000 (liquidity cluster)
- Market Sentiment:
- The current “extreme greed” sentiment suggests the potential for a market correction, but it also highlights investor confidence in the long term.
Investors are advised to monitor these key levels and market sentiment closely, as any significant movement in liquidity zones or breaking of support could shape the next phase of Bitcoin’s price action.
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