Bitcoin compared to Fear and Greed Index
Highlighting the fact that although BTC has dipped, the fear and greed has not retraced.
This suggests market sentiment is still elevated and we can expect further downside.
In all cases leading up to this dump, we saw a correction in the fear and greed index of 20+, currently we sit at a correction of only 16 pts in market sentiment.
My thesis: DOWNSIDE RISK HIGH UNTIL MARKET SENTIMENT RESETS
This suggests market sentiment is still elevated and we can expect further downside.
In all cases leading up to this dump, we saw a correction in the fear and greed index of 20+, currently we sit at a correction of only 16 pts in market sentiment.
My thesis: DOWNSIDE RISK HIGH UNTIL MARKET SENTIMENT RESETS
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.