Market sentiment just hit a three month low, and it is only one point away from extreme fear. 😨
FXEmpire reported on 3 November that the crypto market lost 2 percent in 24 hours, falling to 2.57 trillion dollars, its lowest level in six weeks, with the market down more than 14 percent from its peak and in a steady downtrend for almost a month. 📉 The same report puts the sentiment index at 26, a three month low and just one point above the extreme fear zone, and notes that bears face little resistance until the 2.48 trillion dollar region, where the 200 day moving average sits. My reading is that fear this deep usually comes near turning points, but it never tells you the exact day, so the job tonight is to watch levels, not feelings.
Does fear 26 mark capitulation near a bottom, or does it slide into extreme fear first? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketSentiment
FXEmpire reported on 3 November that the crypto market lost 2 percent in 24 hours, falling to 2.57 trillion dollars, its lowest level in six weeks, with the market down more than 14 percent from its peak and in a steady downtrend for almost a month. 📉 The same report puts the sentiment index at 26, a three month low and just one point above the extreme fear zone, and notes that bears face little resistance until the 2.48 trillion dollar region, where the 200 day moving average sits. My reading is that fear this deep usually comes near turning points, but it never tells you the exact day, so the job tonight is to watch levels, not feelings.
Does fear 26 mark capitulation near a bottom, or does it slide into extreme fear first? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketSentiment
