Crypto Daily – Despite very poor sentiment for (BTC) that is being felt across the entire market, Bitcoin still looks incredibly bullish. This current market shakeout could be the one before the king of the cryptocurrencies finally heads skywards. Are you still in this trade?
Fear still pervades the market
Sentiment for Bitcoin is still very much in the region of fear. In the crypto press and across social media news such as “the whales are selling”, is rife. The Fear and Greed Index is still reading Fear, at a score of 31. Of course, this is better than the Extreme Fear, and the score of 17 that was registered last week, but even so, fingernails are being bitten, and the nerves are certainly getting wracked.
The Mt. Gox distributions are getting distributed, and the traditional stock market still has the jitters after the Japanese melt-down. If the whales are also selling, isn’t this the time to get out?
If in doubt, zoom out
Source: TradingView
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