Fear Index at 13: Are you afraid of the drop, or that you won’t be able to stop yourself from making a move?
$BTC is now hovering around $67,700. Yesterday, it briefly plunged to $67,600, its lowest level since August 19. The PPI data wasn’t actually bad—October rose 0.3% month over month, slightly below the 0.4% forecast. Within five minutes of the release, the price jumped from $69,900 to $70,200, then slid all the way back down.
Good news can’t lift the market, which suggests it’s not the data people fear—it’s each other. ETFs saw another $284 million in outflows on November 12, and the odds of a rate hike in December have climbed to 90%. The Fear and Greed Index is at 13, marking two consecutive days of extreme fear.
But look at it another way: from the October 6 high of $126,000, it’s already down 46%. Ask yourself this: do you want to sell because you’ve understood something, or because that 13 on the index is making your trigger finger itch?
$65,000 is less than $3,000 away. And then what?
#TradingPsychology,$BTC ,#Bitcoin
$BTC is now hovering around $67,700. Yesterday, it briefly plunged to $67,600, its lowest level since August 19. The PPI data wasn’t actually bad—October rose 0.3% month over month, slightly below the 0.4% forecast. Within five minutes of the release, the price jumped from $69,900 to $70,200, then slid all the way back down.
Good news can’t lift the market, which suggests it’s not the data people fear—it’s each other. ETFs saw another $284 million in outflows on November 12, and the odds of a rate hike in December have climbed to 90%. The Fear and Greed Index is at 13, marking two consecutive days of extreme fear.
But look at it another way: from the October 6 high of $126,000, it’s already down 46%. Ask yourself this: do you want to sell because you’ve understood something, or because that 13 on the index is making your trigger finger itch?
$65,000 is less than $3,000 away. And then what?
#TradingPsychology,$BTC ,#Bitcoin