Bitcoin reached key resistance level of $59,500, including psychological level of $60,000
If we break through and gain a foothold, then the next stop is historical highs at $69,000
Our favorite fear and greed indicator signals extreme greed in the market:
1️⃣ The indicator on the crypto market is already at 82
2️⃣ The stock market indicator reached 78
❗️ We described the principle of operation of this indicator in the bottom of the vulgar post 👉 Remember
This indicator historically always works great.
For example, the last time at such high levels Bitcoin $BTC corrected from $48,900 to $38,500 in January of this year.
Now, when there is maximum euphoria in the market, the probability of this indicator working out is very high. Therefore, be careful with new purchases, especially overheated coins.
❌ Of course, this does not mean that you need to run to sell positions that were taken at good prices, and especially during corrections you do not need to sell your portfolio.
The potential correction will need to be used to increase the share of assets in the portfolio, and not buy now at market highs.
🙅♂️ We do not recommend shorting, since growth is impulsive and levels break very easily on such trends.
Be careful and don't get emotional. You will still have time to earn money, but I don’t think anyone would want to lose their deposit. Good luck!
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