Bitcoin Greed & Fear Index for Low Die Low Don Show Say E Go Bounce Back
Bitcoin Greed & Fear Index don drop enter extreme fear levels wey dey below 5. This kind drop for di 21-day moving average of Bitcoin Greed & Fear Index to 10% normally mean say market don reach bottom and tactical low. Bitcoin briefly drop to $80,880 before e jump back to $84,800, e mean say e don drop 10% dis week and 23% dis month. Analysts like Markus Thielen from 10x Research dey warn say overall downtrend fit still continue but fit soft small, e fit trigger quick 10% bounce like wey happen for March. Traders fit see this extreme fear reading as correct buy signal for quick short-term rebound.
Bullish
The extreme dive of the Bitcoin Greed & Fear Index inside sub-5 zone show say traders dey fear well-well, na one historic contrarian buy signal wey dey often come before market bottom. The 21-day average set at 10% plus the recent price bounce from $80,880 to $84,800 show say short-term bounce get chance. Even though overall downtrend fit still dey waka inside market wahala, past pattern like March rebound still dey reason bullish look for Bitcoin shortly. Traders fit use this tactical low enter position, dey expect say corrective upswing go happen before any serious recovery.