#MarketPullback MarketPullback #MarketPullback
The cryptocurrency market is declining after a significant increase.
The short-term trend is down, with prices dropping from recent highs. However, the proximity to support levels ($94,000 and $93,514.10) and oversold indicators (lower Bollinger bands, RSI potentially below 30) suggest a possible reversal. Evidence leans towards a continuation of the decline unless buying pressure increases, but a short-term recovery seems likely if the support holds.
Buy Signal: Look for a bullish reversal pattern (e.g., hammer, engulfing) near support levels ($94,000 or $93,500). A breakout above the purple moving average (around $94,500) with higher volume would be a strong confirmation. RSI showing divergence or bouncing from oversold levels may also signal a buy signal.
Sell Signal: For short-term trades, wait