Extreme Fear! BTC Fear Index Drops to 17! What's Next?
GM crypto bro's, finally, the market has slightly calmed down this morning after our portfolios got nuked yesterday. Keep staying strong, guys.
Okay, this morning's update: the fear and greed index has dropped back to 17 (extreme fear), while the stoch RSI is still dead like yesterday. In terms of price action, BTC has a small chance to visit around the 58K area and then go sideways in the 57K - 56K range. Hopefully, there won't be any more crazy drops. The long candle on 05/08/2024 has already claimed many casualties.
There is a possibility that the current market drop is part of a plan by big money, whales, etc., to buy the dip on a massive scale, considering the growing rumors that Grandpa Powell from the FED might cut interest rates in September.
Like always, keep in mind the market is dynamic. Don't be FOMO, stay safe, keep calm, and always remember that nothing is impossible in the crypto market. Anything can happen, even the impossible.
Always manage your risks, and as always, that's all for today's crypto update.
I'm Akki, signing off. Stay sane, my liquidated friends, and have a nice day.
Okay, this morning's update: the fear and greed index has dropped back to 17 (extreme fear), while the stoch RSI is still dead like yesterday. In terms of price action, BTC has a small chance to visit around the 58K area and then go sideways in the 57K - 56K range. Hopefully, there won't be any more crazy drops. The long candle on 05/08/2024 has already claimed many casualties.
There is a possibility that the current market drop is part of a plan by big money, whales, etc., to buy the dip on a massive scale, considering the growing rumors that Grandpa Powell from the FED might cut interest rates in September.
Like always, keep in mind the market is dynamic. Don't be FOMO, stay safe, keep calm, and always remember that nothing is impossible in the crypto market. Anything can happen, even the impossible.
Always manage your risks, and as always, that's all for today's crypto update.
I'm Akki, signing off. Stay sane, my liquidated friends, and have a nice day.
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