In a market of extreme fear, when will a Bitcoin entry make sense
After its $69,000 all-time high, Bitcoin’s price has been on a downtrend for the most part of the last month. On 4 November, after the king coin registered the strongest bearish candle since May on a daily chart, the shake-off left the market shaken.
While the quick rebound from the near $40k-level, up towards the $48k-mark, instilled some confidence among market participants, the larger sentiment still remained bearish. Especially as BTC oscillated close to $47,969 at press time.
The larger sell-offs led the Crypto Fear and Greed Index to once again dip into the extreme fear territory as Bitcoin traded below the 100-hour Simple Moving Averages. Bitcoin’s weekly close, which has been key to the bullish trajectory and the mid-short term price
Read more on ambcrypto.com
