Time To Buy Bitcoin? Volatility Kicks In!

10 sty 2022

We have a very long lower wick on today's candle after some volatility kicked in.

The Fear & Greed Index for Bitcoin is now at "Extreme Fear"... What happens next?

Looking at the 1H timeframe, we can see a candle wick going as low as $39558 but closing at $40809.
The the following candle pushed prices back above EMA10 on high volume.

See the chart:

This recent low coincides with September 2021, opening the doors for a double bottom.

The blue arrow show the potential bullish path.
(Potential is now opening for a bullish bounce).

If the bulls fail to push prices above EMA10 this week, we can expect a test of lower support.

This is not financial advice.
Remember to do your own research before trading.

Namaste.