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What do Bitcoin’s charts, Crypto Fear and Greed Index say about a trend reversal?

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The crypto fear and greed index was sitting at a “greed” position, suggesting that there might be a trend reversal soon.

The entire crypto market has been experiencing a bull rally over the last week, as top coins registered double-digit gains.

As per our analysis, at the time of writing, the crypto fear and greed index had a reading of 69, meaning that the market was in a “greed” phase.AMBCrypto then checked BTC’s rainbow chart to see whether it indicated a price correction, which might result in an entire market correction. Things in the derivatives market also looked pretty optimistic as BTC’s Funding Rate increased. However, the Taker Buy Sell Ratio turned red. This meant that derivatives investors were selling BTC at press time.

 

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