#BTC
The most remarkable level of fear and greed is at marks 28-30, which corresponds to a price for Bitcoin of $83k-$84k. If we don't stray too far and return to 2023, we will find $25k for Bitcoin with the same fear as today. Recently, this same indicator was at the mark of 17, which roughly corresponds to 2022 - the FTX collapse. Public interest in the crypto market is waning; most see no point in it, yet Bitcoin is at the mark of $84k. Will the average person buy Bitcoin at this price for their portfolio? No, it's too expensive! And there's no confidence that it will rise; rather, there's a strong belief that it will crash and continue to update lower levels (let me remind you, with a fear indicator of 28-30 and a recent reading of 17). Persistent fear always imposes its game. #bitcoin still holds up quite well against the stock market, even considering that miners have started selling a bit more than usual; someone is still buying. ;)
If we delve deeper into this topic, there is much to discuss, but for now, the focus is on holding $83k; if we don't hold it, there are supports (see previous posts), and the hard resistance level of $85.1k hasn’t gone anywhere.
Good morning to everyone 🏆
$BTC
The most remarkable level of fear and greed is at marks 28-30, which corresponds to a price for Bitcoin of $83k-$84k. If we don't stray too far and return to 2023, we will find $25k for Bitcoin with the same fear as today. Recently, this same indicator was at the mark of 17, which roughly corresponds to 2022 - the FTX collapse. Public interest in the crypto market is waning; most see no point in it, yet Bitcoin is at the mark of $84k. Will the average person buy Bitcoin at this price for their portfolio? No, it's too expensive! And there's no confidence that it will rise; rather, there's a strong belief that it will crash and continue to update lower levels (let me remind you, with a fear indicator of 28-30 and a recent reading of 17). Persistent fear always imposes its game. #bitcoin still holds up quite well against the stock market, even considering that miners have started selling a bit more than usual; someone is still buying. ;)
If we delve deeper into this topic, there is much to discuss, but for now, the focus is on holding $83k; if we don't hold it, there are supports (see previous posts), and the hard resistance level of $85.1k hasn’t gone anywhere.
Good morning to everyone 🏆
$BTC
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