2024-11-08 01:48

NgànhCrypto: From fear to greed in one week
The crypto market has gained around 8% over the past seven days, stabilising near $2.30 trillion over this week and reaching a capitalisation of $2.32 trillion at the time of writing on Friday. The sentiment index is firmly in greed territory at 73. This is the highest level of optimism since late July and contrasts sharply with fear (32) a week earlier. Bitcoin has gained over 12% in the last week, making two attempts to break through the $68 thousand level. In our view, the bulls in Bitcoin already showed their strength on Monday, as they took the price above the 200-day MA in one fell swoop, breaking through the previous highs and the upper boundary of the multi-month descending channel. The next growth target looks to be the $71-73K area, where strong resistance and historical highs from March are concentrated.
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Crypto: From fear to greed in one week
| 2024-11-08 01:48
The crypto market has gained around 8% over the past seven days, stabilising near $2.30 trillion over this week and reaching a capitalisation of $2.32 trillion at the time of writing on Friday. The sentiment index is firmly in greed territory at 73. This is the highest level of optimism since late July and contrasts sharply with fear (32) a week earlier. Bitcoin has gained over 12% in the last week, making two attempts to break through the $68 thousand level. In our view, the bulls in Bitcoin already showed their strength on Monday, as they took the price above the 200-day MA in one fell swoop, breaking through the previous highs and the upper boundary of the multi-month descending channel. The next growth target looks to be the $71-73K area, where strong resistance and historical highs from March are concentrated.
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