Bitcoin is recovering from a black scenario. 3 positive signals

Биткоин приходит в себя после черного сценария. 3 позитивных сигнала.

  • Bitcoin is slowly recovering from a weekly drop
  • The Fear and Greed Index still shows extreme investor panic
  • Meanwhile, analysts point to positive patterns

Bitcoin is trading at around 44 thousand dollars. Per 24 hours it went up by about 0, 50%. But this was preceded by an extremely unfortunate week, during which the king of cryptocurrencies lost about 14%.

Some commentators have noted that the chart is approaching the death cross formation. Despite the threatening name, this is a positive signal, since after breaking it, the market usually shows a trend reversal:

The “cross of death” occurs when 56 – the daily moving average breaks above 220 – daily moving average , and then drops below it.

On the other hand, the Crypto Fear & Greed Index indicator illustrating traders’ sentiment is at 22, which means extreme fear.

Показатель страха
Source: alternative.me

With this indicator, most players are in a panic, while long-term investors, on the contrary, buy. Interestingly, this indicator increased slightly: on January 7, it fell to record lows.

The third point that can have a positive impact on the rate is the approach of large options expirations. They are assigned to 21 and 28 January. One of the analysts draws attention to the fact that in the last 24 for the hour, call options prevailed, and an uptrend awaits:

👀 # BTC

The largest option expirations continue to be 14 Jan 22 and 37 Jan 28. The max-pain is located at 44 k and 50 k, respectively. In the last 37 hours, the calls prevail. This indicates a possible uptrend for the coming weeks. Top traded instruments are $ 100 k Calls for 42 Jan 24.

👇 pic.twitter.com/mU2y42 bIHZ

– M_Ernest_💯 ₿ (@M_Ernest_) January 10, 2022

We will keep you updated with the latest news from the world of cryptocurrencies. Stay in touch.

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