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Author Topic: Extreme greed on the market  (Read 721 times)
bitgolden
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November 16, 2020, 04:12:18 PM
 #61

What many people do not realize is that greedy index will slow down even if the price stays this way. So, it looks like we are in a greedy market right now and that is correct because price skyrocketed a lot and we still buying so we look like we are greedy, that is true and won't change today.

However, assuming bitcoin stays at $16k for 5 months (never stays at the same price for that long but this is just example) suddenly that greedy index starts to go down and becomes normal, why? Because we are greedy when we hit a new high price but when that price becomes normal the index becomes normal as well. So, do not be worried about looking at a greedy market, today's greedy market is tomorrows normal market and that is how I like to see what we are doing right now.

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November 16, 2020, 05:51:24 PM
 #62

only selected altcoins can determine the bullish momentum in the current situation, such as Defi altcoins and of course Ethereum, we know that this is a difficult season for altcoins, but we don't give up, just keep holding your altcoins.
If you have been watching the market for a long time, you would not make that statement. Bitcoin is what sets the movement in the first place. Rest all altcoins simply follow the trend. Currently the effect is due to the Paypal deal for crypto payments and this fueled a big bullish trend. Altcoins are following it like anything.

But if you are wise enough you would sell off your altcoins at profit during this pump rather than keep holding on to them. Rest assured, they are not going to be next to bitcoin ever in future, they remain "alts".

Anything aside from bitcoin would always be remained as alts yet nothing beats out the original crypto that we've been engaging for a decade.
When it comes to sentiments on why this market had pumped up then we have seen several big major events of adoptions that's why we are
currently seeing these numbers.Greed on the market? It isn't something new in talks about how people do react on it where the price is
rising up then their emotion of FOMO will really pop out but actually this is the best time to sell out your stash because we wouldn't know
on what would happen next.

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November 16, 2020, 07:44:00 PM
 #63

Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?
To me, the Fear & Greed metric is really important for me to use and find good prices to buy and sell.  I often trade with high leverage so I have to be very careful in analyzing crowd sentiment. In addition, these indicators will often not be too accurate, so we also need to consider candles more to be sure of the victory.
P/s: Fear & Greed indicator and volume trade will be the perfect combination to help us to order / take profit at the most accurate and reasonable time. Wink


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November 16, 2020, 07:58:56 PM
 #64

Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?

This is just an indication, as you say, but it is not something fundamental by which you should guide yourself, sometimes the strategies of the whales consist of making traders believe that to be able to make the opposite movement and thus win, it is like a jungle, not all investors or traders have an opinion, not all emotions are reflected there.

In the same way, it is good to have all this information so that you can carry out your commercial decision. What matters is that your trading plan is not affected by news, I learned that from a book by Jesse Livermore, which, he did not see or trade news so that they would not interfere in his analysis, of course today is decision of the trader to do what suits him best according to his criteria.


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November 16, 2020, 10:08:34 PM
 #65

I am one of those who rarely use the fear and greed index when trading, maybe I feel that I don't fit with the strategy I use.
I mostly use volume indicators and RSI in trading, the more reliable and accurate I think. But that doesn't mean the fear and
greed index is bad, but using the fear and greed index only makes me panic if there is a bullish market.

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November 16, 2020, 10:14:27 PM
 #66

only selected altcoins can determine the bullish momentum in the current situation,
such as Defi altcoins and of course Ethereum, we know that this is a difficult season for altcoins,
but we don't give up, just keep holding your altcoins.

Alts are begining to build up their momentum of recent and this started few weeks back after bitcoin dominance began to weak. What DeFi alts are doing right now is just a build up to its previous all time high so lets not get decieve and fall victims twice. Chances are many of them will complete this comeback successfully but be sure to have your stoploss in place just incase another correction follows.

While you advice to hold be rest assured that alts can't be trusted, they can easily get manipulated and tends to follow trending trends like if DeFi tokens are dumping other DeFi tokens follows suit. Profit taking should be the best way to stay under the protection of dumps that might occur in future.





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November 16, 2020, 10:18:34 PM
 #67

I usually can't predic the price in such vulnerable market. It is very tough though. If yoi consider your holdings you will se some changes. Yes Btc is high now and getting increased. But see the altcoins. It is getting dumping now. So price analysis is now hard to predict. So it is no matter which indicator you used.

I don't think the whole altcoin market is down now also you really can't predict the price of the market since it's volatile those indicators and charts are just your guide to what could be the outcome and there's a lot of outcome that can happen and you should make a strategy on how are you going to handle the outcome.

only selected altcoins can determine the bullish momentum in the current situation,
such as Defi altcoins and of course Ethereum, we know that this is a difficult season for altcoins,
but we don't give up, just keep holding your altcoins.

I come to realize once again that every time there's a sway of the market in a different direction sentiment among newbie investors changes dramatically.

You have people who pour lots of money into shit alts and then worry that their investment isn't doing well because they ignored the signs of a bull BTC market.

The only thing you an do is learn not liquidate, and next time look for better opportunities and get to look at the market for over a few days as for sure you'll start seeing the trend/pattern the market is heading into.

Speculation isn't good if it comes from the back of a 'gut feeling' but from a more elaborate analysis of the market. As any speculation warrants at least some evidence.

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November 16, 2020, 10:54:47 PM
 #68

AFAIK, Oanda US forex broker has created an excellent tool for measuring the fear/greed index on spot markets. Almost 90% of the indicators are based on the price action which can't be the source for fear/greed index, the sentimental spot market analysis can tell us what traders feel and what they are going to do as a crowd. If the volatility is high and euphoria happens, this is a clear example of staying away from buy orders that add more data for this indicator.

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November 18, 2020, 01:05:42 AM
 #69

only selected altcoins can determine the bullish momentum in the current situation,
such as Defi altcoins and of course Ethereum, we know that this is a difficult season for altcoins,
but we don't give up, just keep holding your altcoins.

Alts are begining to build up their momentum of recent and this started few weeks back after bitcoin dominance began to weak. What DeFi alts are doing right now is just a build up to its previous all time high so lets not get decieve and fall victims twice. Chances are many of them will complete this comeback successfully but be sure to have your stoploss in place just incase another correction follows.

While you advice to hold be rest assured that alts can't be trusted, they can easily get manipulated and tends to follow trending trends like if DeFi tokens are dumping other DeFi tokens follows suit. Profit taking should be the best way to stay under the protection of dumps that might occur in future.
It looks like the accumulation phase in altcoins coins are now nearing to its end where for me it will the start of the price surges. Look at the coins that are belong in top 10 in terms of market capitalization like ETH and XRP, both of them have recent momentum where the candlestick of it telling that there are now a lot of investors and traders that are interested to buy it. When it comes to defi, I do not see major changes because for me it is just a short term trend wherein it will pump after it got listed then it will go down real quick where it indicating that there is a massive selling pressure where a lot of the holders of defi are in fear. I recommend to have a criteria to others if they will buy altcoins because not all of altcoins are good even the general market sentiment is in uptrend.
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November 18, 2020, 04:55:30 AM
 #70

AFAIK, Oanda US forex broker has created an excellent tool for measuring the fear/greed index on spot markets. Almost 90% of the indicators are based on the price action which can't be the source for fear/greed index, the sentimental spot market analysis can tell us what traders feel and what they are going to do as a crowd. If the volatility is high and euphoria happens, this is a clear example of staying away from buy orders that add more data for this indicator.
Using these tools should be with prior caution too. For experienced users there are many tools but newbies take time to get a hang of it. While the concept of market psychology still needs work from the newbies to get a grip of, it still remains more or less difficult to predict ever for pros.

Most of the times we are following the trend and not starting the trend. But even then we can make profits from that no doubt.

While someone may be happy using a certain indicator, how this correlates with the market psychology takes time to take in.

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November 18, 2020, 01:30:39 PM
 #71

I think the reason why Bitcoin price is growing right now is mainly the fact there are more people willing to buy vs people willing to sell.

Why so many people willing to buy Bitcoin?

I think the main factor is the election of Biden as the US president.

He is known for social policies and pushing the $15/hr minimal wage idea which might make the dollar cost much less vs other currencies including Bitcoin.

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November 18, 2020, 07:20:00 PM
 #72

I used to feel like "buying low, selling high" is the only way to make money and I have invested during 6-7k period last spring so I am feeling comfortable.

However I have changed my mind about buying low part, because buying low could also mean "low according to who?" and we can't really answer that as global one type answer, to some people who want to buy today and sell when it is 50k in 15 years or if it happens sooner, buying today would be low, they do not mind buying at 16k when they are fine with waiting 10+ years to sell, but if you are a day trader and want to buy, you can buy at 16374 and sell at 16480 and still make profit, so people are really working towards their own buying and selling levels and each of them are different from each other.
That is why trading is so hard, you need to make your own judgement calls about what it means to be high and what it means to be low and that is something that is only gained by experience, it is precisely because of this that newbies get so poor results when they try to trade and it is why the stories of newbies been successful right away are very rare, you need to watch markets for years before you begin to realize what is a high point and what is a low point according to your own standards and once you develop that kind of feeling for the markets that is when you will begin to make profits.



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November 18, 2020, 11:20:29 PM
 #73

If this was a good indicator people would only be using it to trade and always make money.

Fear and greed index is good as an addition but price can sit on extremes for weeks. When we were in bear market last year the index was showing fear/extreme fear for many weeks.
It is indicating a coming correction but that correction may come now or next week and in the meantime we could hit a new high.
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November 18, 2020, 11:24:52 PM
 #74

If this was a good indicator people would only be using it to trade and always make money.

Fear and greed index is good as an addition but price can sit on extremes for weeks. When we were in bear market last year the index was showing fear/extreme fear for many weeks.
It is indicating a coming correction but that correction may come now or next week and in the meantime we could hit a new high.
Always remain to be in question because this market is already been unpredictable.You wouldn't know on when it moves neither it would pump or would dump but with those indicators you can
really tell that we are already on that greed area.

The question is, when would correction will happen? No one knows but for sure it would happen this is why people should be careful for them not to caught with the dump or
when the market tends to correct itself.

Selling will be ideal if you are in gains but it isn't bad if you do wait up for a little bit for possible price increase or breaking ATH's.

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November 18, 2020, 11:52:47 PM
 #75

Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?
I'm a short term cryptocurrency trader but I never use such an index in my trading analysis because there are some occasions in the market which will change the trend of the Bitcoin market even when the signal shows the market to experience a dump in price.

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November 19, 2020, 08:33:20 AM
 #76

I am one of those who rarely use the fear and greed index when trading, maybe I feel that I don't fit with the strategy I use.
I mostly use volume indicators and RSI in trading, the more reliable and accurate I think. But that doesn't mean the fear and
greed index is bad, but using the fear and greed index only makes me panic if there is a bullish market.


You are right. Greed on the crypto market is a relative of the panic. When the panic starts, many people try to sell their cryptocurrencies to get cash. It often leads to the market fall, and even to the crypto winter. It happened in 2018, we all know about this time problems.

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November 19, 2020, 09:30:36 AM
 #77

I am one of those who rarely use the fear and greed index when trading, maybe I feel that I don't fit with the strategy I use.
I mostly use volume indicators and RSI in trading, the more reliable and accurate I think. But that doesn't mean the fear and
greed index is bad, but using the fear and greed index only makes me panic if there is a bullish market.
I don't know about these features and never used them and maybe that is why I am still able to hold my coins because if I start getting worried by these charts and parameters then I will be tempted to sell my coins. I hardly ever use these and all I know in simple is, the demand will increase and the halving will cause a shrink in the sell orders which means the supply will be limited which eventually means the price should rise, as simple as that.

I like how people are now again trusting in the market and even when the price touched bottom this year, I was one of the most relaxed investors and actually bought a little bit more because again the demand and supply chain will never end and it is made in such a way that the demand always increases while the supply shrinks further as we go.

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November 19, 2020, 10:18:16 AM
 #78

Yes, I have used the Greed Index, it is accurate if the market conditions are very extreme, usually this is because FOMO is too strong so the market is overbought, I never buy coins when the market is overbought, because I know that soon the market price will fall.

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November 19, 2020, 12:03:14 PM
 #79

Yes, I have used the Greed Index, it is accurate if the market conditions are very extreme, usually this is because FOMO is too strong so the market is overbought, I never buy coins when the market is overbought, because I know that soon the market price will fall.
Remember what BTC USD Dec 2017? problem is, only because something is overbought, does not mean it can't continue to rise... I agree I would not buy in these circumstances, but I would not unnecessarily sell in these conditions either. I am waiting for structure and then act on it if I see it on the screen. Works well for me so far.
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November 19, 2020, 01:08:28 PM
Merited by jaberwock (2)
 #80

Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?
I'm a short term cryptocurrency trader but I never use such an index in my trading analysis because there are some occasions in the market which will change the trend of the Bitcoin market even when the signal shows the market to experience a dump in price.
Very true specially in the bitcoin market because no matter what the signals are indicating the market can move in any direction without any explanation or indication so yeah pretty explosive and dynamic market.

I hardly play with the price because I often buy in the bull run and then forced to sell in the bear run so I have stopped playing with the price of bitcoins but one thing I do is, when a small dip happens I buy some amount and as soon the market gets to the normal amount again, I just sell and save my profits.

Good luck and well played for people who held strong in tough times!

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