Fear Prevails on Crypto Market as Investors Wait for Halloween Sale, Here's Why

📆 10/31/2022 9:00 AM
📰 Utoday_en

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Despite the Bitcoin recovery, it is not ready to provide fresh funds to a crypto market that does not perform during the Halloween celebration

A large part of the fear on the market is caused by the behavior of one of the most popular indicators used by day traders and short-term investors. The Relative Strength Index is extremely useful when the goal is to determine the stability of a rally.Unfortunately, the indicator shows a large probability of Bitcoin's reversal on the market. Such a prediction is based on the divergence between the indicator and the asset's price.

At press time, the Fear and Greed index is at a value of 30, with"Fear" prevailing among the majority of retail cryptocurrency traders and investors.

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