At this point, we’re witnessing the fight for the $10K threshold. This is the most important psychological and technical level for all market participants. A confident breakthrough of this level will open new opportunities for buyers, and $10K is considered a “FOMO-trigger”. The Greed and Fear index has dropped five points overnight, but still in “greed” mode. The bitcoin will likely consolidate around the current levels for some time, but the longer the coin doesn’t show a breakthrough, the higher the chance of sale-off start.
The FxPro Analyst Team