What do the Charts Tell us About Bitcoin Price Action?

What Happened to Bitcoin in May 2021?

If we look at the fear and greed index of the crypto market, it is evident that before May, there was a sense of extreme greed in the market. Despite the fact, RSI and MACD formed lower lows, the prices kept rising. The fear and greed index even surpassed level 90 during February and March. Now the index is hovering below 30.

Cryptocurrency Fear and Greed Index
MACD and RSI Divergence in Daily Timeframe

Where is Bitcoin Hanging Now?

BTC Weekly Timeframe
Bitcoin Monthly Timeframe

Probable BTC Price Action

BTC Monthly Price Action

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