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BTC Extreme Fear scores 21: The gauge turns red. Here is what does it mean.

BTC Extreme Fear scores 21 which is the lowest since July 22. The Fear and Greed index shows the investors’ sentiments and tendencies towards the market.

The live Bitcoin price today is $42,140.46 USD with a 24-hour trading volume of $45,241,412,550. Bitcoin is down 2.92% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $793,207,520,204.

BTC Extreme Fear

Obvious from the image below, the index has turn red at 21 indicating Extreme Fear in the cryptocurrency market. A score of 0 is the maximum Fear and a score of 100 is maximum greed. When there is fear in the market, there is always a buying opportunity however the maximum greed index indicates that a correction in the market is due.

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The extreme fear has taken over the market and the number are as low as it was last on July 22.

BTC Extreme Fear: The technical Side

 

BTC Extreme Fear

BTC closed bearish today and it still has more room to decline. However, the focus will be on the Daily candle tomorrow and on the Fed event. $38,300-$39,000 is the support zone and $44,000 is the resistance target here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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