Bitcoin Investors Are No Longer ‘Afraid’ – Watch This Bitcoin Price Level Next

Bitcoin (BTC) remained elevated on Oct 2 after a “wonderful” break of the uptrend market sentiment.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Trader Looks to $45,000 BTC Low Price

info from Cointelegraph Markets Pro And TradingView A fearsome calm was followed by the BTC/USD pair after Friday’s sudden bullish volatility saw the addition of $3,000 in an hour.

Classic saw “short squeeze” There is no great opposition Over the weekend, with bitcoin holding above levels from the August close.

For Cointelegraph contributor Michael van de Poppe, the question now was what form the consolidation period could take in the coming days.

warned in Youtube update Friday.

“I think the deepest you want to see go is that level around $45,000.”

However, van de Poppe added that he prefers a bullish continuation as a result of short-term price action rather than a deeper decline towards levels from earlier in the week.

Meanwhile, a look at the buying and selling levels on the main exchange Binance platform revealed a growing resistance starting at $48,000.

BTC/USD (Binance) buy/sell levels on October 2nd. Source: Material Indicators

“Extreme fear precedes financial opportunity”

Trader and analyst Rekt Capital was equally optimistic pointed That BTC/USD has been hitting higher lows for four months, all of which saw strong buyer support despite the price rising each time.

Related: ‘Say Hello to Uptober’ – Bitcoin Price Spikes Over $47,000 in Minutes, Liquidating $270 Million in Short Trades

Measurement of reference feelings Cryptographic Fear and Greed Index, noted that the fear in general has left the market again thanks to Friday’s price action.

“After yesterday’s brilliant BTC hack…investors are no longer afraid of Bitcoin,” said sum up.

“Extreme fear precedes financial opportunity.”

Fear and greed have been languishing in “extreme fear” territory as recently as Thursday, rising scores since rising from 20/100 to current levels of 54/100, which are described as “neutral” to sentiment.

Crypto Fear & Greed Index as of October 2nd. Source: Alternative.me