**Bitcoin (BTC) Price Surge to $82k After $80k Dip*
Bitcoin’s price recovered to $82,520 after dipping to $80,000, with a 2.25% increase despite a 6.36% crash earlier.
Warning of a Potential $75k Retest
The recent bearish trend followed a triangle breakdown and a drop below crucial support levels. The daily chart shows a bearish engulfing pattern signaling potential selling opportunities, raising speculation of a $75,000 price retest.
Current Market Analysis
The daily RSI indicates a bullish divergence, suggesting a potential short-term consolidation if Bitcoin maintains a price above the 61.80% Fibonacci level. The immediate resistance stands at $91,780.
Market Sentiment and History
Fear in the crypto market mirrors previous crashes as noted by analyst Inmortal referencing the Crypto Fear and Greed Index, suggesting a possibility of a V-shaped recovery like seen in past downturns.
Global Economic Context
The rise in global M2 liquidity to $107.741 trillion may support Bitcoin’s recovery. Trends indicate that as M2 stabilizes, Bitcoin may rebound as investors look for volatile investments.
Conclusion
Currently, bears are influencing Bitcoin’s short-term trajectory, making a test of the $75k level probable. However, historical patterns and rising liquidity hint at a mid-term recovery potential.
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