When the Bitcoin Fear & Greed Index shows a reading of 17, it indicates extreme fear in the market. This metric, which ranges from 0 (extreme fear) to 100 (extreme greed), can be a useful tool for assessing market sentiment. But does a reading of 17 mean it's a good time to invest?
Some effective indicators can give you good signals to start a trade.
1, MACD (Moving Average Convergence Divergence)
Crossing Zero Line: A bullish signal occurs when the MACD line crosses above the zero line, indicating upward momentum. Conversely, a bearish signal occurs when it crosses below the zero line.
2, RSI (Relative Strength Index)
Oversold Conditions: Check if the RSI values (6, 12, 24 days) are below 30, which indicates oversold conditions and potential for a price rebound.
3, Moving Averages (MA)
Key Levels: Analyze the 7-day, 21-day, and 99-day moving averages to identify the overall trend. A price above these moving averages often signals bullish momentum.
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