Bitcoin is slightly in the green territory this monday morning. It is trading around $7100 but the overall bearish sentiment is still very much alive. The Crypto Feal & Greed Index is at 21 (extreme fear) and both the daily and weekly stochastics are still below 20 and I dont expect a bigger move higher until we get a reading above 20 on both those indicators.
So, what could happen next is a retest of the $6500 area. The long term supporting trendline on the weekly chart goes down to that area and we also have a monthly pivot point around $6200 so make sure to be aware of those levels.
Bitcoin arrived there
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