BTC recorded its best monthly gains since October 2021 as it completed its strong comeback in August. Bitcoin and other altcoins' recoveries pushed the Crypto Fear and Greed Index to 42 on Saturday, its highest since April.
Attempts by the bulls to sustain the price above $24,200 have failed as the bears defend the level with vigor, however, the bulls haven't lost much ground in the battle. At the time of writing, BTC trades at $23,200.
This indicates that the bulls aren't booking profits and are waiting for Bitcoin to break through the overhead resistance and rally to its comfort zone of $28,000 to $30,000. The 20-day EMA is sloping upwards, the RSI is in positive territory which indicates the bulls seem to have the upper hand at the moment.
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