Bitcoin price is close to recovery with the return of fear of fear and greed star-news.press/wp

Bitcoin price was stuck in a narrow range this week, as the pattern of flag formation and Crypto Fear and Greed Index indicate a recovery.

Bitcoin (BTC) remained within a narrow range since July 14 when it fell after it reached its highest level at $ 123200.

Crypto Fear and Greed at 63

A monitoring scale is closely shown that encryption investors are still generous despite the constant withdrawal of Altcoin Market. Fear and greed index in the 63 -year -old greedy area remained a decrease from the highest level from 71 years.

This index is inspired by the similar CNN Money. It examines five main indicators to measure morale in the market in the encrypted currency industry. For example, the momentum is seen for the best ten currencies except Stablecoins and how to perform them.

Other metrics are bitcoin fluctuations, ethereum, derivative market, and market formation. Then it uses the ownership data for Coinmarketcap to assess social media. In most cases, cryptocurrencies operate well when there is greed in the market.

The CNN Money’s Fear and Greed also remained in the 68 -year -old Green Zone. This greed moves the strength of the share price, the expansion of the stock prices, and the demand mode options, which are in the maximum greed area.

Fear and greed standards indicate a recovery of the final bitcoin price, and perhaps after the interest rate of the Federal Reserve. The upscale issue also depends on the constant accumulation by institutional investors with the continued ETF flows.

Technical analysis of bitcoin prices

Technical analysis shows that the price of bitcoin remains in a narrow range this week. As a result, the three lines are narrowed by Bollinger, a sign that fluctuation has dried up. In most cases, this performance usually leads to pressure in either direction.

There is an opportunity to press the upper direction, as the currency formed a pattern between the upscale flag. This style includes a vertical line similar to the flag and a similar triangle.

Science in this pattern is about 20 %. Measurement of the same distance from a possible penetration point indicates $ 143,550.