The fear index reached extremes amid falling bitcoin to around $ 9,500

The fear index reached extremes amid falling bitcoin to around $ 9,500

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Study: Europeans are confident in the future of cryptocurrency, but not Bitcoin

Over the past 24 hours, the first cryptocurrency has accelerated the fall, failing the psychological level of $ 10,000.

The four-hour chart shows how, against the backdrop of large trading volumes, the price stubbornly strives for the following important level – $ 9000:

Most altcoins demonstrate not the best dynamics – the depth of the fall of many coins is expressed in double-digit numbers:

Against the background of the strongest collapse in the last month, the cryptocurrency “fear and greed index” has reached extreme values:

The total market capitalization fell to $ 253 billion, although even less than a week ago this figure exceeded $ 300 billion.

However, some proponents of technical analysis try not to lose optimism. So, Mind Trader cherishes the hope that after the failure of the lower boundary of the symmetrical triangle, the fall will stop at $ 9300.

$ BTC (MT4 Chart) Below trend line support, $ 9300 next support and possible triple bottom.

The trader does not exclude that after this the “Triple bottom” reversal pattern will form.

It is noteworthy that on the Coinbase exchange, demand among the largest players exceeds supply:

Interestingly, according to Coinbase’s data, 67% of customers with large BTC holdings (top 10%) are buying rather than selling in the last 24 hours.

Recall, according to RoboForex analysts, for “digital gold” it is important to prevent a fall below $ 9000, at which a strong downward correction is expected to continue.

The fear index reached extremes amid falling bitcoin to around $ 9,500

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