Floki Next Action: Breakout or Breakdown?
Floki is now very close to a serious crossroads. If the breakout prevails, we may expect an explosive rally. On the contrary, upon the failure of support, a prolonged correction could hinder the expected bullish thrust. Traders should prepare for spiky price movement over the weeks to come as Floki settles on its next turn.
Bitcoin’s fear and greed index is down to 30, highlighting angst in the market. This follows the massive drop from Bitcoin: $100K highs to $77K, raising anxieties for impending price movement. Previous occurrences for the index having dipped into 20-30 have typically marked accumulation phases; the provided price so far remains way up, leaving any bias absorbed in deliberation for the time being. Should the sentiment continue to dwindle, then further drops may get ushered in.