#币安矿池FB联合挖矿
Bitcoin Daily
The Fear and Greed Index is now at 90, which is quite high and not commonly seen. So, I looked back at the previous Fear and Greed Index to see how Bitcoin ($BTC) was doing at those times:
On June 26, 2019, the index was 95, and Bitcoin surged to $13,970, then fell to $3,800. In December 2020, the index was above 90 for the entire month, and Bitcoin rose from around $17,600 to $41,000. In mid-February 2021, the index was above 90 again, and Bitcoin fluctuated between $57,000 and $58,000, then dropped to $28,850, later rising to $62,000. After that, it consolidated between $64,000 and $50,000 for two months, before finally dropping to $29,000. On March 4, 2024, Bitcoin last surged to $68,500, and then consolidated between $49,000 and $73,000 for 8 months.
You see, a high index doesn’t necessarily mean a drop. During that December 2020 time, Bitcoin actually surged by 138%. Although it dropped by 31% in 2021, it later rose by 124%. The 2019 instance truly marked a peak. But that said, the market has changed significantly over the past five years.
What I want to say is that extreme greed doesn’t always mean you have to sell. This might indicate a strong bull market or that too many people are going long, leading to increased volatility. So, being greedy is fine, but be cautious and don’t forget about risk management.
Yesterday, Bitcoin’s price fluctuated, but I think it’s quite possible for it to rise to between $95,000 and $100,000.
P.S. If Bitcoin drops in the future, it might fall to the annual VWAP's VAH2, around $81,500, or to the CME futures gap, between $77,930 and $80,670.
Recent price nodes:
Looking upwards: $92,930, $93,370, $93,890, $94,260
Looking downwards: $90,860, $90,200, $89,530, $89,015
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