Bitcoin is currently trading around $56,740.82, down 1.49%
The Bitcoin fear and greed index on Tuesday, November 30, 2021, went from the fear level of 33 to the level of 40
MicroStrategy has added another batch of 7,002 BTC to their treasury
RSI sees “bullish engulfing”
BTC/USD reversing to local lows of $55,920 on Bitstamp overnight.
The pair then recovered to circle $56,500 at the time of writing, with analysts keeping the faith on higher timeframe strength.
Popular Twitter personality TechDev noted that Bitcoin’s stochastic relative strength index (Stoch RSI) had “reset” to levels that echo BTC/USD at $44,000 — just before the run that culminated in all-time highs.
“Bullish engulfing printed on stoch RSI cross with RSI reset to 44K levels,” he summarized alongside the three-day chart.
Bitcoin’s late strength Monday coincided with a return to form for macro markets and news that Twitter CEO Jack Dorsey had quit the company to focus entirely on Bitcoin activities.
While $60,000 remained out of reach of bulls, signs of a marked shift in sentiment were everywhere.
“Bitcoin high timeframe structure is bullish. Cycle awareness is key,” TechDev added in a separate post.
The Crypto Fear & Greed Index, days ago in “extreme fear” territory, looked set to enter its “neutral” zone with a score of 40/100 Tuesday.