Bitcoin’s Rocky Ride: Is This the End or Just Another Dramatic Twist?

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Look, Bitcoin is still hanging around under the 50-day moving average, right? And what do you know? The fear and greed index is slumping like it just heard a bad joke. Talk about a downer! 😒

So, Bitcoin (BTC) is now chilling at $84,000. Just a smidge under that magical number—$85,000. Like a guy who can’t quite reach the top shelf at the grocery store. The price is, oh, about 13.4% above its all-time low this month. Good for it, I guess? 🥳

Why is it acting like this? Apparently, Donald Trump decided to exempt some stuff—like smartphones, because who doesn’t need to scroll through cat videos during a financial meltdown? Initially, stocks went bananas, but then they crashed back down like a toddler on a sugar high. The Nasdaq 100 started off feeling great, only to end up like your buddy who can’t take a hint after you’ve already left the party. 🎉➡️😩

But here’s the kicker: investor sentiment is all over the place. It’s like a high-strung cat at a dog park. Traders are cautious, playing it safe. Spot Bitcoin ETFs had a melodramatic outflow of over $713 million last week, following last week’s equally sad loss of $172 million. It’s a trend! 💸💨

The crypto fear and greed index? Stuck in “fear” territory at 27, while the CNN Money index is down in the “extreme fear” zone at 21. You think it’s bad? Just wait until the Dow posts a grocery list of negative numbers! 😱

Meanwhile, futures open interest has decided it’s best to just sit on the sidelines. It’s been steady at $56 billion. Kind of like that friend who never wants to split the bill but is always up for drinks! 🍻

Bitcoin price technical analysis

Now, looking at the chart, Bitcoin’s got a little drama brewing. It’s stalled around $84,400—right under those fancy 50-day and 200-day Exponential Moving Averages. If those cross over? Yep, we could be looking at a death cross. Sounds totally morbid, right? 😬

Bitcoin is still playing under the descending trendline like it’s a game of hopscotch, and it’s near the bottom of its trading range defined by the Murrey Math Lines. If sellers get their act together, they might target that double-bottom support at $76,800. But hey, if Bitcoin breaks above that pesky trendline and those MAs, then we might be looking at a wild bullish reversal! Fingers crossed! 🤑

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2025-04-14 20:28