Fear & Greed just printed 10. Ten. That's the kind of number I only remember seeing a handful of times, and every time it felt like the world was ending.
Then today, from the low, $ETH bounced about 7% (1,711 to roughly 1,830) and the whole market added around $120B in a few hours. Bitcoin clawed back above $66K too, though it's still in the red on the day.
Now, a bounce from extreme fear is not a bottom. I've watched plenty of these in 2018 and 2022 where the first sharp rally off the lows got everyone excited, then price came back to retest. What I care about is what the bounce is made of. Short covering after a liquidation flush looks very different from fresh spot buying.
Funny thing about 10 on the index: it tells you how people feel, not what price does next. Sometimes it's the floor. Sometimes it's just the floor of this leg.
What I'm watching on ETH:
• does 1,711 hold on a retest
• does it reclaim 1,900 on a daily close
• is volume on the green candles actually bigger than on the red ones
Patience beats prediction here.
Honest question: are you buying this bounce, or waiting for the retest?
$ETH
#Ethereum #FearAndGreed #CryptoMarket #Altcoins #BinanceSquare
Not financial advice. DYOR.
Then today, from the low, $ETH bounced about 7% (1,711 to roughly 1,830) and the whole market added around $120B in a few hours. Bitcoin clawed back above $66K too, though it's still in the red on the day.
Now, a bounce from extreme fear is not a bottom. I've watched plenty of these in 2018 and 2022 where the first sharp rally off the lows got everyone excited, then price came back to retest. What I care about is what the bounce is made of. Short covering after a liquidation flush looks very different from fresh spot buying.
Funny thing about 10 on the index: it tells you how people feel, not what price does next. Sometimes it's the floor. Sometimes it's just the floor of this leg.
What I'm watching on ETH:
• does 1,711 hold on a retest
• does it reclaim 1,900 on a daily close
• is volume on the green candles actually bigger than on the red ones
Patience beats prediction here.
Honest question: are you buying this bounce, or waiting for the retest?
$ETH
#Ethereum #FearAndGreed #CryptoMarket #Altcoins #BinanceSquare
Not financial advice. DYOR.
