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Crypto writer
Arslan Butt
Crypto writer
Arslan Butt
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Bitcoin is trading around $95,775, up nearly 7% this week, as the broader crypto market goes through one of its most fragile sentiment phases of the year. The Crypto Fear & Greed Index collapsed to 10, marked “Extreme Fear” and the corresponding levels last seen in early March.
That turn alone is enough to give even long-term traders pause, especially as market capitalization has fallen to $1.91tn and momentum indicators continue to soften.
Historically, extreme fear has tended to act as a contrarian signal, often appearing near key accumulation areas, but this time the technical structure does not offer a clear verdict.
Bitcoin has fallen below its long-term uptrend line for the first time since the spring, signaling a break in the momentum that has carried the market for most of 2024 and 2025.
Technical Photo of Bitcoin (BTC/USD) at a Crossroads
Bitcoin is stabilizing after a sharp decline that dragged the market into the $94,500-$92,000 support region, an area that served as a pivot throughout April and May. Thursday’s long wick lower suggests buyers have stepped in, but the follow-through has been timid.
The 20-EMA has turned, as dynamic resistance, while the RSI is near 33, above the oversold territory without forming a clear bullish divergence.
Behavior of candles reinforces uncertainty. This week’s pattern looks like a smaller version of a sequence of three black crows, followed by a single rejection candle, not enough to signal capitulation, but enough to slow the decline. The price is now squeezed between the broken trend line above and a mid-range floor below, an area where markets usually make quick decisions.
Key levels to watch
A change in momentum requires evidence. Traders watch:
- $99,000 – Buyers of the first sign take back control
- $103,700 – The broken trend line; recognizing that he restores momentum
- $92,000 – Breakout level exposing deeper support
- $83,000 – Large pocket of liquidity and the next major downside target
A daily close above $99,000 will confirm a short-term reversal, especially if accompanied by an engulfing bullish candle and an RSI above 40.
Is this an accumulation fund?
Extreme fear can create opportunities, but it can also precede another wave of selling. With Bitcoin stuck between conflicting signals – oversold momentum versus broken structure, traders approach this area with caution. If buyers defend $92,000, this could evolve into a classic accumulation pocket. If not, the market may revisit deeper supports before stability returns.
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