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Crypto Watch – This Rally Needs a Buyer: MicroStrategy Can’t Carry It Alone

As sentiment hits extremes and macro tailwinds fade, the burden of this rally rests on shrinking shoulders.
2025-06-05

Last week, we noted how Bitcoin faced stiff resistance around the 115K level, flagged by a 13s DeMark exhaustion signal. That resistance still holds. Even with the powerful move from 80K to 110K, the rally has now run headlong into a zone of euphoric sentiment. The G&F (Greed & Fear) index has pierced the 90% threshold, signaling that the market is overwhelmingly leaning one way. Historically, that’s not the environment where clean breakouts happen. In fact, it usually calls for a pause — some sideways chop or a deeper flush — before momentum can rebuild. The Fibonacci extension level would be the next target (+-131K). They’re clustering in the same area as the DeMark signal, which adds to the weight of resistance.

Chart 1.a: BTC facing resistance.

As sentiment hits extremes and macro tailwinds fade, the burden of this rally rests on shrinking shoulders.

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