On 09 Nov 2023, we saw Bitcoin reaching a high of $37,978. But over the next 9 days, it start to trade around the $38,000 resistance mark, with negative divergences intensifying on smaller timeframes.
We might be seeing Bitcoin trying to stay above $39,000 which is the new resistance level. So why is Bitcoin behaving this way when market is expecting it to surge after the approval of Spot ETFs?
In this article, I would like to share what I will be looking at and what might happen when Bitcoin could be having a break before the next surge.
Why Measure Fear and Greed?
The crypto market behaviour is very emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in irrational reaction of seeing red numbers.
This is why Fear and Greed Index could be used to save us from emotional overreactions. Actually, there are 2 simple assumptions that we can follow.
極度の恐怖can be a sign that investors are too worried. That could be a買いの機会です.
72914972 : ビットコインを買いたいときの最良のオプションは何ですか? どのプラットフォームを使用すればよいですか? これが最高で最も安全なプラットフォームですか?