Quote from: Mpamaegbu on March 26, 2024, 11:24:37 PM

At the time of making this post, on the 4hr TF the RSI shows overbought but then I've come to realize that in the market there's nothing like overbought or oversold in the true sense of it as price can stretch any length it wants. Though, from other confluences, I expect a little dip from this point at $70,300 to $67,800. If it breaks that level convincingly, we're likely hitting $52,200 region to embrace a value gap. If that doesn't hold, I'm scared to think of it but that would be price going down further to $43,800.

I assume that there are some technical analyzes that "suggest" such a scenario, but at the moment it seems quite unconvincing to me that Bitcoin can lose more than 40% of its value in less than a month, given that the OP mentions the halving as the deadline. It seems to me that there are a lot of people who completely underestimated the effects of spot ETFs, and now they are persistently trying to reverse the price to fill their bags.

If it is to be judged by yesterday, ETFs inflows are returning to levels from before with the new 5900 BTC, and that will hopefully keep the price above $60 000 regardless of the Grayscale dumps.