Nine days ago, we flagged something most people were ignoring. Today it played out.
The Fear and Greed Index had jumped from 27 to 74 in under two weeks, and the read then was simple: extreme greed usually shows up right before a pullback, not during the best part of a rally.
Today, that's exactly what happened. Bitcoin dropped over 2.5% to $77,583. More than 81,000 traders got liquidated for $381 million. And the nine day streak of Bitcoin ETF inflows just snapped with a $201.8 million outflow. Fed rate comments were the trigger, but the greed reading was already flashing the warning before that news even hit.
So here's what actually matters right now if you're watching for the bounce. The pattern to know is the Dragonfly Doji. It shows up as a T shaped candle: price gets pushed down hard during the session, but buyers step back in with enough force to drag it right back up near the open before the close. It doesn't guarantee a reversal by itself, but it's usually one of the first real signs sellers are losing their grip.
Not something to blindly buy off of. Something to start paying attention to.
Are you watching for a bounce here, or do you think this pullback has further to run? 👇
Not financial advice. DYOR.
#$BTC #$ETH #Binance #TechnicalAnalysis #CandlestickPatterns
The Fear and Greed Index had jumped from 27 to 74 in under two weeks, and the read then was simple: extreme greed usually shows up right before a pullback, not during the best part of a rally.
Today, that's exactly what happened. Bitcoin dropped over 2.5% to $77,583. More than 81,000 traders got liquidated for $381 million. And the nine day streak of Bitcoin ETF inflows just snapped with a $201.8 million outflow. Fed rate comments were the trigger, but the greed reading was already flashing the warning before that news even hit.
So here's what actually matters right now if you're watching for the bounce. The pattern to know is the Dragonfly Doji. It shows up as a T shaped candle: price gets pushed down hard during the session, but buyers step back in with enough force to drag it right back up near the open before the close. It doesn't guarantee a reversal by itself, but it's usually one of the first real signs sellers are losing their grip.
Not something to blindly buy off of. Something to start paying attention to.
Are you watching for a bounce here, or do you think this pullback has further to run? 👇
Not financial advice. DYOR.
#$BTC #$ETH #Binance #TechnicalAnalysis #CandlestickPatterns
