Analysis: "BTC Fear and Greed Index Signals Bottoming, Key Indicators Warn of Further Downside"
This article is machine translated
Show original
Amid speculation that the current market fear could signal a bottom, Cointelegraph reported that the bearish trend in the futures market and key technical indicators suggest further declines, citing multiple analysts. Cryptocurrency trader Michaël van de Poppe stated, "Over the weekend, the Bitcoin Fear and Greed Index fell to a record low of 5. The daily BTC Relative Strength Index (RSI) also fell to 15, entering extremely oversold territory. These levels are similar to those seen during the 2018 bear market and the March 2020 COVID-19 crash." CryptoQuant analyzed, "Currently, BTC is below both the 50-day moving average (approximately $87,000) and the 200-day moving average (approximately $102,000). The Z-score (a measure of how far a price deviates from the average in standard deviations) comparing BTC to gold also stands at -1.6, suggesting continued selling pressure."
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content






