‘This Is How Bottoms Are Formed' – Analyst Predicts Bitcoin Comeback, Says New BTC All-Time High Around the Corner
The Fear and Greed Index: After reaching an all-time high of 95 in late May, the Fear and Greed Index has now dropped to a more neutral level of 47. This suggests that the extreme fear that had overtaken the market has subsided and could potentially pave the way for a rebound in BTC prices. Pizzino also notes that the index has historically been a reliable indicator of Bitcoin's price movements, with extreme fear often preceding major price rallies. BTC's Technical Analysis: In addition to the Fear and Greed Index, Pizzino also looks at BTC's technical analysis to support his belief that a bottom has been reached. He points to the 200-day moving average, which is currently acting as strong support for the cryptocurrency. This moving average has historically been a key level for BTC, with bounces off this level typically resulting in major price increases. The Role of Crypto Influencers: Pizzino's analysis is just one example of the influence crypto influencer...