The price of bitcoin was stuck in a tight range
Summary
- Bitcoin Price has formed a fast penetrating pattern on the daily chart.
- The crypto fears and greed index in the gear zone remine.
- The technology indicates a final bitcoin price increase.
Bitcoin (BTC) has removed a narrow color from July 14, when it returned after killing his all -time high of $ 123,200.
Crypto fear and greed index is at 63
A closely viewed gauge suggests that crypto investors are still greedy, which are pullbacks running in the ultcoin market. The Crypto Fear and the greed index have been resumed in the greedy region of 63, which is below the year-by-year of 71.
This index is inspired by CNN money equally one. It examines five major indicators to gauge the market situation in the Cryptocurrency industry. For example, it looks at the mother of the top ten coins, except for stabechoin and how they are done.
Other matrix are the instability of bitcoin and atherium, derived market and market structure. It uses the future data of coinmarketcap to assess the social media Seniite. In most cases, cryptocurrency is good when there is greed in the market.
The fear and greed index of CNN money has also reminded in a green zone of 68.
Two fear and greed gauges indicate one final bitcoin prime turn turn turn, possibly followed the Federal Reserve of Interest decision. Along with the release of ETF inflow, the bullish case by institutional investors is also based on institutional investment.
Bitcoin price technical analysis
Technical analysis suggests that the price of bitcoin remains in a tight color this week. As a result, the three rows of the Bollinger band have compressed, an indication that the instability has dried up. In most cases, this performance is usually a squeeze in the ether direction.
There is a channel that will squeeze the squeeze reversal as the coin has formed a rapid penette pattern. This pattern line resumes a flagpole and a symmetrical tringle.
Flagpol in this pattern is about 20%. Measuring the same distance from a possible breakout point leads to an increase of $ 143,550.