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After dropping below $ 80,000, Bitcoin is now discouraged by over $ 85,000. The fear and greed index leaves the extreme apidity zone for a more balanced level, indicating a possible return to ascending dynamics.
The feeling of a bitcoin market develops positively
Bitcoin has been undergoing the main consolidation period since the beginning of March. The queen Kryptos began to bounce significantly in a strong direction down, which fell below $ 80,000. It now exchanges over $ 85,000, a level that makes many investors.
This recovery is accompanied by a remarkable change in the feeling of the market. Axel Adler Jr., a recognized analyst in a research worker blockchain and macroeconomics, emphasized the important development of the index of fear and greed of bitcoins.
This technical indicator, which synthesizes various data for measuring the emotional climate of investors, shows clear signs of stabilization.
Specifically, the quarterly index (90 days) has fallen by approximately 22 percentage points in the last two months. This decrease brought this from the extreme zone of greed to achieve milder levels, suggesting progressive balance of market forces.
Does the current BTC correction end?
If the index drops from 10 to 15 other points in the coming weeks, the market could find relative peace.
At the current speed, Adler estimates that it will take 4 to 6 weeks to achieve this critical threshold. Once this level is reached, emotional fluctuations should fade considerably.
A particularly encouraging phenomenon already appears. While the quarterly index continues its standardization, the 30 -day (monthly) mobile diameter began to form a local floor. This technical configuration reminds what the end of the last main correction meant when Bitcoin touched $ 54,000.
This technical analogy is not for investors without interest. After this cavity at $ 54,000, Bitcoin achieved a spectacular increase of more than 107 %and achieved a historical record of $ 109,400. Crypto Mags analyst predicts a similar scenario with a new potential low point at $ 76,600 before a significant reflection.
In order to take place, MAGS emphasizes the importance of critical support on 45 on the relative forces index (RSI). If this level was true, this could follow an increase of 64 %, which could drive bitcoins to $ 128,000 – corresponding to the level of extension of Fibonacci 1.618 and creating a new historical summit.
The current period therefore remains decisive for the medium -term future of bitcoins, with technical signals that gradually lean to the return of measured optimism.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.