#MarketPullback MarketPullback #MarketPullback

The cryptocurrency market is declining after a significant rally.

The short-term trend is down, with prices falling from recent highs. However, proximity to support levels ($94,000 and $93,514.10) and oversold indicators (lower Bollinger bands, RSI potentially below 30) suggest a reversal may occur. Evidence leans toward a continued decline unless buying pressure increases, but a short-term rebound seems likely if the support levels hold.

Buy Signal: Look for a bullish reversal pattern (e.g., hammer, engulfing) near support levels ($94,000 or $93,500). A break above the purple moving average (around $94,500) with higher volume would be strong confirmation. RSI showing divergence or bouncing from oversold levels could also signal a buy.

Sell Signal: For short trades, wait for a break below $93,500 with strong selling volume and confirmation from indicators like MACD showing increasing bearish momentum. However, with oversold conditions, short trades carry a higher risk of reversal.