Bitcoin Greed Index Soars to 71 as BTC Price Surges
Bitcoin's price surge has pushed the crypto fear and greed index to 71, indicating that greed has returned in the market. This comes after BTC erased three months of losses in just three days.
The current price action on the 4h chart shows a bullish trend, with Bitcoin sitting above its EMA50 support at $67505.48 and EMA200 at $65003.44. However, momentum remains stretched, as the RSI(14) prints 94.56 in overbought territory.
The MACD(12,26) is holding a golden cross at 3208.7, which is a sign of strong upward momentum. With price testing upper Bollinger resistance at $78808.24, a healthy retracement toward the 50-EMA support at $67505.48 looks probable before continuation.