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Bitcoin has reached February highs today and tested $74,400. Ethereum has even surpassed $2,200 and continues to grow daily.
All this has led to an increase in the Fear and Greed Index from 15 to 23 points, indicating a return of risk appetite. This indicator analyzes market sentiment to help make informed investment decisions in cryptocurrency. Its rise from the extreme fear zone into the neutral zone is a positive signal, indicating a gradual restoration of investor confidence.
The index's increase from 15 to 23 points prompts many market participants to reassess their strategies. A level of 15 is usually associated with panic selling and maximum caution when fear dominates reason. Meanwhile, a score of 23, though still in the fear zone, demonstrates a clear shift toward increased risk readiness. This means that investors are starting to see opportunities for potential profit, even amid lingering concerns.
Such dynamics in the Fear and Greed Index typically precede a period of price growth. A market that was recently under pressure from negative sentiment is beginning to show signs of life. As fear subsides and greed takes its place, investors become more active buyers, driving demand for cryptocurrency assets. This, in turn, can trigger upward price movements that further fuel positive sentiment.
As for the intraday strategy in the cryptocurrency market, I will continue to rely on any significant pullbacks in Bitcoin and Ethereum, expecting the long-term bull market to persist.
Regarding short-term trading, the strategy and conditions are outlined below.
Scenario #1: I will buy Bitcoin today when it reaches an entry point around $74,300, aiming for growth to $75,000. At around $75,000, I plan to exit my purchases and immediately sell on a bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.
Scenario #2: I can buy Bitcoin from the lower boundary at $73,400 in the absence of market reaction to its breakout back toward levels $74,300 and $75,000.
Scenario #1: I plan to sell Bitcoin today when it reaches an entry point around $73,400, targeting a decline to $72,400. At around $72,400, I will exit my sales and immediately buy on a bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is below zero.
Scenario #2: I can sell Bitcoin from the upper boundary at $74,300 in the absence of market reaction to its breakout back toward levels $73,400 and $72,400.
Scenario #1: I will buy Ethereum today when it reaches an entry point around $2,282, aiming for growth to $2,319. At around $2,319, I plan to exit my purchases and immediately sell on a bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.
Scenario #2: I can buy Ethereum from the lower boundary at $2,254 in the absence of market reaction to its breakout back toward levels $2,282 and $2,319.
Scenario #1: I plan to sell Ethereum today when it reaches an entry point around $2,254, targeting a decline to $2,220. At around $2,220, I will exit my sales and immediately buy on a bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is below zero.
Scenario #2: I can sell Ethereum from the upper boundary at $2,282 in the absence of market reaction to its breakout back toward levels $2,254 and $2,220.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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