Bitcoin price is at risk of death with fear and greed index

Bitcoin price remained under pressure less than the moving average for 50 days, as fear and greed index was held in the fear area.

Bitcoin (BTCIt was traded at $ 84,000 on Monday, slightly less than the main resistance level at $ 85,000. This price is about 13.4 % higher than this month.

The currency movement followed Donald Trump’s decision Exempt some elements such as smartphones And other electronic goods are recently announced. While stocks rose at first after the news, many of these gains were erased at a later time. For example, the Nasdaq 100 index increased by 90 points only after a height of more than 500 points.

One of the main reasons behind the poor Bitcoin performance is that the feelings of investors are still cautious. Many merchants continue to stay on the margin. Bitcoin’s investment funds in external flows recorded more than $ 713 million last week, after losses of $ 172 million in the previous week.

The CoinmarketCAP index in the “Fear” area remains at the age of twenty -seven, while the Money CNN index sits even in the “extreme fear” area in 21. Historically, these levels indicate bliss behavior of risk, with fewer investors ready to be exposed during unconfirmed circumstances.

Meanwhile, the open storms moved to my side in recent days. According to Coinglass, the open interest is still stuck at $ 56 billion, which reflects a continuous weakness in future demand and condemnation of trading.

Technical analysis of bitcoin prices

The daily graph shows that bitcoin is still under pressure. The price movement stopped to about 84,400 dollars, which is a major level below the average mobility for 50 days and 200 days. A potential intersection of these two tensions can be a cross of death, a declining technical signal indicating more from the downside.

Bitcoin also continues to trade without a descending trend line linking the highest levels of oscopy since January 20. It is currently located near the minimum trading range, as determined by the Murrey Math Lines.

Looking at these signals, there is a risk of BTC’s resumption in the declining direction, as sellers are likely to target double support at the last bottom of $ 76,800. However, this declining view will be nullified if bitcoin is broken above the landing line, both of which are moving average. The ongoing step above these resistance points will also deny the cross -killing preparation and indicate a potential upward reflection.