Greed

Bitcoin

As Bitcoin (BTC) climbs to $91,799, investors eagerly watch for the next milestone of $100,000. However, on-chain metrics suggest a potential 10-15% correction, which could see the price retrace to $76,000 before resuming its rally. 
<h2 id="what-do-on-chain-metrics-indicate">What Do On-Chain Metrics Indicate?</h2> 
Key on-chain data points to possible short-term downside risks for Bitcoin. Popular crypto analyst Ali Martinez highlights five crucial indicators that suggest caution. 
<ol> 
 <li>The Fear and Greed Index currently stands at 83/100, signaling extreme greed in the market. Martinez notes that this sentiment is particularly prevalent among retail investors, as reflected by the spike in Bitcoin-related searches.</li> 
 <li>During the recent rally, investors locked in $5.42 billion in profits, which could create additional selling pressure.</li> 
 <li>The TD Sequential Indicator on the daily chart has issued a sell signal. Martinez suggests that a daily close above $91,900 could invalidate this signal and pave the way for Bitcoin to reach $100,000.</li> 
</ol> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-8521" src="https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy.webp" alt="" width="1792" height="1024" srcset="https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy.webp 1792w, https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy-300x171.webp 300w, https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy-1024x585.webp 1024w, https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy-768x439.webp 768w, https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy-1536x878.webp 1536w, https://deythere.com/wp-content/uploads/2024/11/illustrating-Bitcoins-potential-correction-and-key-support-levels.-The-design-features-a-glowing-Bitcoin-logo-hovering-over-dy-860x491.webp 860w" sizes="auto, (max-width: 1792px) 100vw, 1792px"> 
<h2 id="critical-support-levels-to-watch">Critical Support Levels to Watch</h2> 
If a correction occurs, the first major support zone lies between $85,800 and $83,250. In the event of a more substantial decline, the next support range is $75,520 to $72,880. These levels could present strategic buying opportunities for investors. 
<h2 id="risk-and-opportunity-for-investors">Risk and Opportunity for Investors</h2> 
While potential corrections pose risks, they also offer opportunities for investors who carefully monitor key support levels and market trends. With Bitcoin nearing a historic milestone, the market remains volatile, requiring strategic decision-making. 
Stay informed with Dey There for the latest insights and updates on the cryptocurrency market. 
Bitcoin correction, support levels, on-chain metrics, Fear and Greed Index, cryptocurrency trends

Bitcoin Nears $100,000: Key Support Levels Signal Potential Risk

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