Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?
These indices are indicative, they cannot be taken as a measure of commercial decision, it can be seen, for me the best thing is to study the volume, in the volume is the information that few see, I would trust much more the news than those indices.
Bitcoin is heavily influenced by trends, and even most new traders use the infuncer on twitter as their benchmark for making decisions. I'm sure the index is quite useful in certain respects, but not in a comprehensive way and more on the specifics and in the short term
If the favorite coin that is being hold discussed a lot by influencers, then it is okay to hold it, it's just that greed can't be avoided,
we know this has entered the extreme gred, because many people still want the price of Bitcoin and other altcoins to fly high again and again ,
so that the profit you get is more and more, of course this makes the indicator to be extreme greed,
be careful the whale will play the manipulation on this condition.
Who doesnt want to have more when it comes to profits? Its part of human nature on being greed and when you do saw that prices are way mooning in the market
which would really give out that perception in mind that we might really be seeing real high prices later on.
Big players will really be taking advantage when FOMO had already on set and where people had already gaining up much confidence in the market
which will really result on what they had anticipated on.
As a small fry into this market then you should know to on whats the thing you should target on or having the goal. Secure profits while you still can.