Bitcoin bulls and bears tug the rope for a day, but their forces were approximately equal, and the crypt currency traded about $17,700, losing its growth impulse on the way to $18,500. Nevertheless, the first crypt-currency has been growing by 14% over the last week. Investors are increasingly mastering the mood of profit taking.
For now, correction waves attract demand of buyers willing to open positions at a discount, but with time such investors will become fewer. A healing correction would be beneficial for Bitcoin and the whole cryptarket.
The index of greed and fear for Bitcoin and the largest cryptovoltaics jumped by another 3 points during the day to 94, which corresponds to the regime of "extreme greed. RSI for the BTC/USD pair is also deep in the overbought zone at 81, quite accurately corresponding to the previous indicator. The current RSI position corresponds to the levels of June 2019, when the market was at the maximum of a bullish cycle. Thus, the technical indicators indicate that the correction is approaching soon.
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