Macro comparisons show that BTC price is currently in the bottom zone, with little chance of dropping to lower levels.
Jurrien Timmer, global macro director, multinational financial services group Fidelity Investments recently tweeted: “In my view, it looks like the bottom is there (around $30,000 to $36,000).” .
According to this director, BTC is now past the bottom price zone and it is time for investors to look up to the higher price areas.
In my view, it looks like the bottom is in. pic.twitter.com/16Eg8aHxNo
— Jurrien Timmer (@TimmerFidelity) June 14, 2021
Meanwhile, the Bitcoin Fear & Greed index is now rebounding near the 40 level, approaching the neutral zone after dropping to a record low last week.
This indicator uses a wide range of data to determine if traders’ sentiment is tilted in favor of an uptrend or downtrend at a given price level. From this it is possible to guess whether the asset is being oversold or overbought.
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