Hello Ox'ers. Bitcoin has been trading sideways over the last day in a range from about $47.2K-47.5K USD. A high candle on the 15-min chart over the last day touched around $47.6 K/BTC USD, and a low candle touched around $46.9K/BTC USD.
Looks like resistance to psychological levels at 48K/BTC USD and support around $47K/BTC USD for the time being.
At 8:00 PM New York City time on Wednesday, March 30th, the infamous Twitter account @BitcoinFear posted an index score of 52. The index shifted from "greed" to "neutral" despite the small change in value. The index value and corresponding price changed from $47,266 USD/BTC (at the time index = 55 was posted yesterday) to today's price when the index = 52 was published of $47,183 USD/BTC.
Remember, the index is not simply a reflection of price.
For example, in a Publish0x article I posted on January 8th 2022 (pic below) the Fear and Greed index only was = 10 but the price was = $41,789/BTC USD
That's one of the lowest index scores I ever saw. Bitcoin eventually bottomed out at around 33-36K/BTC USD during late January/February.
Todays index of 52 looking more hopeful:
Below is a 3 month chart of the Fear and Greed index.
Going to be very interesting to see where Bitcoin goes in upcoming days and weeks.
In a previous post I described the Bitcoin Fear and Greed Index in more detail if you need background: https://www.publish0x.com/jglonder/bitcoin-fear-and-greed-index-at-47-its-highest-since-march-2-xoovqwo
Hope you are in great spirits friends.
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