$BTC Evidence is starting to leak through that the latest move was a false bull market start.
On fear and greed, there was a move to extreme greed in September, which is too strong too early. The only comparison is May - June 2019, which ended in a long sideways and downside period.
Moving to extreme greed is only seen at cycle top level readings.
After a move to extreme greed, the next move is to extreme fear, which is what we've just seen. During a bullish correction, you'd want a move to fear instead, like the examples in early 2023.
Extreme fear isn't a buy signal, it lets us know there's a change of trend. Extreme greed tells us price is just flat out overheated.
Anyway... the bull market is not ready.
On fear and greed, there was a move to extreme greed in September, which is too strong too early. The only comparison is May - June 2019, which ended in a long sideways and downside period.
Moving to extreme greed is only seen at cycle top level readings.
After a move to extreme greed, the next move is to extreme fear, which is what we've just seen. During a bullish correction, you'd want a move to fear instead, like the examples in early 2023.
Extreme fear isn't a buy signal, it lets us know there's a change of trend. Extreme greed tells us price is just flat out overheated.
Anyway... the bull market is not ready.
