I will write you a historical technical analysis of this indicator, and from it we can “predict” the next movement of Bitcoin 🤔
The index reached its highest historical level of 95 on 12/1/2020.
At that time, the price of Bitcoin was between $18,000 - $19,700.
The index continued to play between 88-95, and this is the “extreme greed” stage, until 1/9/2021, when the price of Bitcoin reached $41,380.
It rose by (130%) in 39 days and was the first historical peak in 2021 💰
Then it corrected by (-30%) to $28,850 on 1/22/2021, at which time the index reached 40, and this is the “neutral” stage.
After that, Bitcoin launched and achieved new historical peaks, and the first highest peak was $64,850 on 4/14/2021.
It rose by (125%) in 82 days at which time the index was at 75 "greed" stage.
Then it started to gradually decline and reached 19. These are the stages of "extreme fear" on 5/21/2021, and the price of Bitcoin reached $33,480 that day.
At that time, it entered the phase of scaring away traders and gathering whales before we set off to the peak of 2021. At that time, the price of Bitcoin was $69,000 on 11/10/2021 💰
Then we started the bear market and it lasted +700 days.
If there is a similarity in Bitcoin behavior
2024 is coming 2020
2025 is coming 2021
Read my words twice, three and four times.
Important information: Technical, historical, and other analysis is a game of probabilities, not inevitabilities at all.
My goal, or that of other analysts, is to know which of the most likely possibilities is possible, and success comes first and last from God.
