Bitcoin‘s Bull Run: Fake or Flourish? Find Out! 🔥🤡

Oh, the grand spectacle of Bitcoin! Since mid-April, our fearless digital gold has been dancing from beneath the $85,000 mark, tripping its way to a dazzling $104,700. Truly, a show of strength! The crypto crowd was happy, fat with money pouring in through ETFs that promise riches faster than you can say “blockchain.” 💰✨

But hold your horses, brave market warriors! Seems like our hero is getting tired—losing steam after trying to burst out of the $102,000–$105,000 trap. The bullish fireworks? More like a flickering candle in a draft. The market’s giving us the tired sigh of a creature that’s seen better days.

The Expert Says: Bitcoin Still Playing It Safe

Enter Tony Severino, the wise soothsayer of charts, who took to the X platform (formerly Twitter) to pour cold water on our optimism. According to this sage, Bitcoin’s price action is missing that classic bullish aggression. Instead of roaring, it’s more of a meek meow—waiting perhaps for the big surge that never quite arrives. 🐱💨

The culprit? The mysterious Relative Strength Index—RSI for the insiders. Think of it as Bitcoin’s mood indicator. When it hits above 70, it’s like Bitcoin screaming, “Buy me, I’m overbought!” And when it drops below 30, you’re in the spooky oversold zone, waiting for salvation.

Severino reminds us: When Bitcoin rages with RSI above 70, it tells us a bull run is imminent! Back in October 2023, it was all fireworks, and in November 2024, a fresh breakout—shouting “Here we go again!” But now? The market’s cautious, tiptoeing around without that aggressive leap. The price floats, the RSI stays tame—more turtle than hare.

Yet, don’t despair, for Severino warns—at any moment, our hero might unleash that bullish roar. When it does? Expect Bitcoin to smash out of its cozy corner and reach for the moon (or at least the old highs). 🚀🌕

Current Outlook: Bitcoin’s Snapshot

Today, Bitcoin is valued roughly at $103,676—lazy, sluggish, undisturbed. The past 24 hours? Quiet as a monastery. In last week’s performance, it’s only nudged up by 0.8%, making traders yawn and look elsewhere for excitement. According to CoinGecko, the crypto’s mood swings are about as energetic as a cat napping in the sun.

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2025-05-18 02:47