‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal By Cointelegraph

‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal

Cryptocurrency May 25, 2022 07:40PM ET

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‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal

The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index seeing its longest run of extreme fear since the market crash in Mach 2020.

Crypto Fear & Greed Index. Source: Alternative

Data from Cointelegraph Markets Pro and TradingView shows that the price action for Bitcoin (BTC) has continued to compress into an increasingly narrow trading range, but technical analysis indicators are not providing much insight on what direction a possible breakout could take.

BTC/USDT 1-day chart. Source: TradingView

BTC/USDT 15-minute chart. Source: Twitter (NYSE:TWTR)

Bitcoin price vs. supply distribution. Source: Santiment

BTC/USD 1-week chart. Source: Twitter

BTC/USD vs AVWAP 1-week chart. Source: Twitter

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Comments (1)

jason xx May 26, 2022 5:45AM ET

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How come every "expert" has different support and test levels?

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‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal

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