#MarketPullback #MarketPullback #MarketPullback

The cryptocurrency market is declining after a significant increase.

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 potential reversal may occur. Evidence leans towards a continued decline unless buying pressure increases, but a short-term recovery seems likely if support levels hold.

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 could also signal a buy.

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