SELL YOUR BITCOINS Because...Hello Dear Crypto Traders or Holders.
How much you know about BTC Fear & Greed index?
Do you know when the market is in Extreme Fear or Greed what will happen?
I am here to learn you a little this type of market analysis .
Well, if you see this idea, congratulations, you are far ahead of many in this market who understand the use of Trading View.
You can tell the difference between analysis and good prediction.
let's get to the point
Not all tools are always used to analyze the market more accurately, and you need to integrate them properly according to your own strategy.
For example, indicators are not used alone, you have to combine the technical with it or ...
I am here to tell you that bitcoin will not go higher than its own ATH at this time, as many expect, you ask why?
I combined the technical and classic RSI indicator and another useful tool called BTC Fear & Greed index.
Well, you know that markets often react to their own past
What does this market tell us now?
He says that whenever the BTC Fear & Greed chart penetrates above 80 and reaches Extreme Greed mode, most of the whales and big ones in the market start selling their possessions when simple people are greedy, and look back at the market in this situation. crash and experience deep shaving
Or vice versa, when people are in deep fear and this tool goes to the numbers 30 and below, whales use people's fear and get their property cheaper than they grab.
Conclusion:
1. Bitcoin has reached its greatest resistance.
2. The RSI indicator from 6 OCT 2021 shows a negative divergence.
3. The BTC fear & Greed index tool has reached over 80.
4. People who bought bitcoin for 64,000 are selling.
5. In the lower time frames formed a twin hills (Double Top).
6. In the 4-hour candlelight we see that the candlesticks do not have the power to break this important level at the moment.
7. And more importantly, the whales are thinking of trapping traders.
You can save your profits and wait for lower prices.
Now you ask what if he did not correct and BTC hit the ATH ? Because in this market, nothing is 100%. In my opinion, if 10% of this happens, after hit the ATH btc will return to 64000 and when the pullback completed you can enter again.
BE SAFE
