bitcoinThe trading of .
The greedy market when the price approached $50,000 has once again entered the extreme fear zone with the price pullback.
The “fear and greed index” calculated by the popular analysis company, which tries to measure the emotional reflexes of crypto money investors, based on the trends of market volatility, market volume acceleration, social media attention, Bitcoin dominance graph and the types of research on cryptocurrencies on the internet, is 22 points out of 100 today. was calculated as.
How Historically Reflected in Price
As in other markets, we know that the principle of “be greedy when everyone is afraid, be afraid when everyone is greedy” gives good results in the crypto money markets.
Historically, we’ve seen extreme fear levels rarely drop below 10 points. This shows that we can accept 10 points as the bottom level. Therefore, we know that the market offers new entry opportunities to investors as the extreme fear zone approaches 10 points.
When we examine the fear greed graph so far, we see that the extreme fear situation at the bottom can continue for 30 days to 45 days and the price has difficulty in recovering during this time.
Fear for new entry can be expected to increase a little more as the selling pressure continues in Bitcoin, which is technically traded below the weekly Ma20 and Ma50.
As we conveyed in our analysis dated April 8, we will continue to approach the market with a distance before the price goes above the weekly ma20 and 50 or before a rise is triggered by a big news.