3 warning signs suggest the Bitcoin price rally is overextended

(BTC) faced fresh doubts over the strength of its bull run on Oct. 7 as analysts eyed a potential reversal of Wednesday’s short squeeze.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it hovered near $54,000 after failing to establish support at the $55,000 mark.

Bitcoin funding rates vs. BTC/USD chart. Source: Bybt
Crypto Fear & Greed Index as of Oct. 7. Source: Alternative.me
BTC/USD 1-day candle chart (Bitstamp) with Bollinger bands. 

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