Bitcoin Market Shows Signs of Uncertainty: A Look at Recent Price Action

Recent price action for Bitcoin has seen some volatility, with a pullback after a strong resurgence since the second week of April. This period highlights the convergence of bearish factors that are causing increasing sell pressure. 📈📉 💰 While the RSI indicated overbought conditions at the end of April, Bitcoin entered into a Fibonacci retracement zone last week in April, suggesting a potential pullback. However, the cryptocurrency managed to break through the retracement zone, leading to short liquidations. Nevertheless, it experienced a 2.52% retracement since Friday.