The Crypto Fear & Greed Index hit a yearly low of 8 on Tuesday.
It has not been this low since March 2020 when BTC crashed under $4,000.
So despite the risks in the market, I think it is possible a strong reversal can happen with BTC.
The $27,000 area looks like a good buy area. While the trend is bearish, we could see bitcoin move from $27,000 to $34,000.
Always best to follow the trend right now.
I like this indicator, but you can’t rely on it by itself
An indicator should be accompanied by a confirmation indicator to be sure of what you are doing.
This is used as a contrarian indicator, which by definition, means you get in early.
By the time you see confirmation, it’s too late.
We’re still in a sideways market. $27,000 still looks like a solid buy area here.
I am so afraid of the current market situation. I would rather go with the flow. The market trend seems to be my only saviour at the moment.
