Shocked, Bitcoin reached $51K

[FXOpentrading]

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

[FXOpentrading]

Several cryptocurrencies corrected down today after gaining yesterday, Bitcoin dropped 0.24%, Ethereum dropped 1.43%, BNB up to 5.20%, Solana dropped 4.50%, XRP was up 4.07%, Cardano up 3.53%

The Fear and Greed Index shows a value of 75, which means the market's greed for crypto assets is very high, if the Fear and Greed Index value reaches 100, it means the market is extremely greedy and possible correction.

Bitcoin is now in the $51K price range and is forming like a hammer, there is a long shadow on the top candle beware of retracement

[Fin_Trader]

Yes, it looks like there is a price rollback. But you can also make money on this when you trade cryptocurrency with a broker, where you can both buy and sell it and make money on it, as I do in fxopen.

[FXOpentrading]

Yes, it looks like there is a price rollback. But you can also make money on this when you trade cryptocurrency with a broker, where you can both buy and sell it and make money on it, as I do in fxopen.

I also trade at FXOpen UK, the advantage of trading crypto CFDs, whether buying or selling, is that you have the opportunity to make a profit, but it does require higher funds because crypto leverage is different from forex. Bitcoin has reached a new ATH above the price of $73K, but now Bitcoin has fallen again at the $62K level, I am trying to wait for the price to reach $50K.