Bitcoin Approaching a Crucial Signal

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Besides the fact that we have reached a level where retail players are at a loss, a rare and strong signal has appeared on the chart. The last time such a signal occurred was almost a year ago, at the end of last summer. It is possible that today, at the close of the day, the signal will be confirmed. This does not mean that BTC will immediately reverse and skyrocket, but that possibility does exist.

If we conduct technical, fundamental, and social analysis now, all indicators are showing very favorable values. The market has cleared out margin positions, retail has started selling at a loss, there is a lot of FUD (fear, uncertainty, doubt) and a sense of fear in the market. This was the case a year ago when BTC was at $25,000.

This could open the way to $100,000. We are waiting for the weekly candle to close; it is very important to close above the level of $61,492.91.