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📊 #BITDailyChart | Bitcoin enters the "greed" zone

Our own Greed and Fear indicator entered the greed phase, which coincided with its 21-day moving average, a relatively rare occurrence.

Historically, periods of increased fear sometimes coincided with the subsequent medium-term recovery, while the transition to "greed" sometimes coincided with periods when investors fixed profits. However, in the early stages of a bull market, sentiment can quickly turn into "greed" without an immediate trend reversal.

In current conditions, this may indicate a period of consolidation of Bitcoin, and does not necessarily mean a significant correction. Therefore, investors should interpret this indicator taking into account broader market conditions, and not in isolation from them.