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Matrixport: The proprietary Greed and Fear Index is currently below 10%, taking a tactical bullish stance may be reasonable.
[Matrixport: Our proprietary Greed & Fear Index has now fallen below 10%, adopting a tactical bullish stance may be reasonable] Matrixport released its daily chart analysis stating that our proprietary Greed & Fear Index has once again dropped towards the bottom of the 1-100 range, currently below 10%—this level is historically associated with tradable bottoms. Ideally, we would prefer to see its moving average steadily rising, as this usually indicates a smoother and more manageable rebound. However, the latest trend has made Bitcoin's pattern more technical. With the price hovering at the lower end of the range, taking a tactical bullish stance seems reasonable, but traders should still respect the recent retest of Bitcoin's key long-term moving averages.