Wow there is a bounce from $98,500 level... but wait, don't jump into the market. We need clearer confirmation, and further analysis. Besides, our fear and greed are still the same at 42... Be patient for bigger profit gain.
Is this the same pattern? double top pattern. We have to monitor the $101600 level, plus the current world situation is heating up due to war. If it is broken, BTC could head to $100k or even worse to the $98-95k area.
There is one more thing to note, namely the fear and greed index which is still in a neutral state and is heading towards bearish. This is enough for us to never dare to enter the market. Love our money, take a break and be patient waiting for a clear position point.
If we enter in this condition, there are 2 possibilities the price will go up, or continue to decline. The point is this if we look at the bitcoin fear and greed index, I usually enter long when the BTC fear and greed index is in the range of 20 and below (I start to do buy entry by averaging) and I will enter short when the BTC fear and greed index is in the range of 80 to 90 and above.
So it is very clear why I will not do anything (open new positions) at this time. It is very risky because the fear and greed index has not given me a signal yet.
Here I still have a short BTC position that I opened at around $107,700 until now. I will maximize it with a TP target at around $98,000.