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Bitcoin rises, but the market still doesn't believe.
That is what can be read from the current condition. The price has already moved far beyond the $70,000 zone and is now holding above $88,000 — but the Fear & Greed Index is still in the Fear territory. This means the majority of market participants are still hesitant, even tending to be defensive amid the ongoing increase.
From a technical perspective, as long as the price can maintain above the short-term moving average, the bullish structure remains intact. But the RSI approaching overbought levels signals that the momentum cannot be relied on continuously without a pause. A small correction before continuing upward will actually make this structure healthier.
What to watch out for going forward: whether market sentiment will finally follow the price, or if the price will adjust downward to match sentiment. These two scenarios are currently competing.
#GateSquareMayTradingShare
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