BITCOIN ON-CHAIN CHARTS UPDATE (2/11/2022)
Bitcoin Golden Ratio Multiplier has historically been effective in catching potential trend reversals on the market using 350DMA. (See chart below.)
Both in July and September 2021, the 350DMA has been acting as great support for Bitcoin Price. Not until December 2021 came. Now for weeks, we have been under the 350DMA ribbon.
Hence, from this chart, we can say that until we get back above $48k we are still not back to bullish.
Bitcoin Fear and Greed Index is now on Neutral after being on Extreme Fear for the last weeks.
What are your thoughts on this chart? Comment down below.
For more charts relevant to market top readings, stay tuned. 😉
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.
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