Bitcoin $60,400 · Extreme Fear Zone: Danger or Opportunity?


Today the Fear & Greed Index dropped to 13. Historically, every time it enters the extreme fear zone, it is often not the best time to sell, but the best time to observe.

Technical Analysis:
📊 The W-bottom pattern is confirmed, $58,200 is the double bottom, the last line of defense for bulls
📊 $61,000 has been broken and turned into resistance, currently testing the retracement
📊 On June 23, spot ETF net inflow was +$39.2 million, institutional selling pressure turned positive for the first time

Macro Overview:
The Fed remained on hold in June (99% probability already priced in). The market is waiting for rate cut signals. Short-term liquidity is tight, but the direction hasn't changed.

Short-Term Focus:
🔴 Resistance: $61,000 / $63,000
🟢 Support: $58,800 / $58,200 (absolutely cannot break)

Conclusion: The current position is not a time to chase shorts, nor is it a time to blindly add positions. Hold support and wait for direction.
⚠️ For reference only, not investment advice, DYOR
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