Bitcoin [BTC]: This Is It For Crypto!

Market Sentiment and Price Analysis

• Crypto sentiment is resetting, a critical part of every market cycle.
• Price is holding above the December 20th bottom, but sentiment indicates more fear.
• A divergence between price action and sentiment suggests a potential low, but confirmation is needed.

Market Data and Indicators

• The Fear and Greed Index has reset to neutral territory, the biggest reset since October 14th.
• Liquidations have dropped, and the market is seeing a big bias to the short side.
• 24-hour volume has decreased, but daily exchange volume is ticking up.
• A huge amount of outflows has been seen, which could indicate a low is near.

Total Market Cap and Bitcoin Analysis

• The total market cap is holding above the previous all-time high, but a retest of this level is possible.
• Bitcoin's weekly trend has changed from up to down, and the weekly closing price is critical.
• A daily close below the support zone at $92,000 could lead to a larger correction.
• A daily high above $99,000 to $100,000 is needed to confirm a break of the resistance area.

Altcoin Analysis

• Ethereum is holding above its 50% level at $3,100, but trends have not yet turned up.
• Solana and Cardano are also being watched for potential higher lows and trend changes.
• XRP has printed a series of higher lows and could be a leader in the next market move.

Conclusion

• While there are indications of a base forming, confirmation is needed in the form of trend changes and breakouts.
• The trends are still down, but a potential low could be near.
• Continued monitoring of market data and indicators is necessary to determine the next market move.