Euphoria Bitcoin ETFs may continue, after the SEC approved 11 Bitcoin ETF applications some time ago, the price of Bitcoin soared to $49K, although after that it was corrected to $38K, now Bitcoin is recording a new high at a price level above $51K.

Some investors even believe Bitcoin can reach $60K if it breaks the psychological level of $50K. Can BTCUSD reach $55k before the halving?

Coinmarketcap's Fear and Greed Index shows a value of 71, an indication of how high the market's greed for crypto assets is.

In the D1 timeframe, the price is now at 51766 on Ticktrader FXOpen, here you can see the Bollinger band expanding, indicating increasing market volatility.

However maybe be concern is the RSI indicator that measures overbought and oversold prices shows a value of 81, which means the price is in the overbought zone which may be corrected. RSI is a leading indicator that gives signals before a trend is formed.


BTCUSD D1 Ticktrader FXOpen