What is the overall market sentiment and how can I keep track of this?

[VicManton]

I have been observing the market trend recently and have seen that the patters are not so consistent with what I expected although it has been ranging, but I will like to know when I can easily spot when the market will change direction, is there any indicator I can combine to make a thoughtful decision that I will not regret?

If you have your customised indicator settings you could as well share for the sake of learning.

[OmegaStarScream]

I guess the Fear and greed index could be a good indication of the current sentiment.

The original one (AFAIK): https://alternative.me/crypto/fear-and-greed-index/
CMC's: https://coinmarketcap.com/ (Top right corner)

Needless to say, the crypto market is unpredictable. One news article is can be enough to send us to the stone age, or to the moon.

[Oshosondy]

The market can make 1 day and higher time duration candle sticks to be deceiving this time around. What I can encourage you to do is to DCA if you are planning to hold your coins for some months.

Some good indicators for traders are MA, EMA, BB, RSI and Fibonacci retracement. But this indicators are for traders and may not really be useful for someone that wants to hold his coins for a long time.

[el kaka22]

If you ask me, there isn't really any way to make it work like that, it is not going to be that possible and we should figure out a way to make that work eventually. Because at this point, you can't just "track market sentiment", you could just see what the market should be doing or what they are thinking based on the technical analysis you do, but those are not their sentiments, those are their actions, you do not get sentiment in a data form, they are thoughts, whereas what you see on a TA is the actions.

Although, if you ask me, I would say that their actions speaks louder than their words, so we could say that if they are having this kind of trouble then we are not going to really see any big issues, let them do whatever they want.

[tabas]

I have been observing the market trend recently and have seen that the patters are not so consistent with what I expected although it has been ranging, but I will like to know when I can easily spot when the market will change direction, is there any indicator I can combine to make a thoughtful decision that I will not regret?

If you have your customised indicator settings you could as well share for the sake of learning.

Every indicator can be as useful as they can be at times like this when unexpected motion of BTC happens. Aside from the greed and fear index, there goes the fundamentals and news that we're having. They can be a good indicator if you're very active in the market and you like to react every time there is some bad/good news that is being reported. But remember that always you should be proactive and you should "buy the rumors and sell the news". And, if you don't want to regret what you'll decide to, just HODL and stay calm.

[STT]

Simple moving averages would be a plain way to follow.   The detail to that indicator is that multiple time frames exist.   People fret and worry about a weeks worth of selling but its the momentum across a whole year that counts mostly.

Right now there is some dilemena that explains the restricted range of BTC every day.   The low prices currently are just above a weekly average, this mostly means presently BTC has a positive trend ongoing.

BTC also remains just below the 200 day average, the most widely followed indicator there is.  Larger time frames will always beat the short term view, just consider the volume of trades across 200 days will be far larger then 7 or 8 days prior.  Not often can we beat the greater time frames, it takes time to do so.

[AmoreJaz]

I have been observing the market trend recently and have seen that the patters are not so consistent with what I expected although it has been ranging, but I will like to know when I can easily spot when the market will change direction, is there any indicator I can combine to make a thoughtful decision that I will not regret?

If you have your customised indicator settings you could as well share for the sake of learning.

Every indicator can be as useful as they can be at times like this when unexpected motion of BTC happens. Aside from the greed and fear index, there goes the fundamentals and news that we're having. They can be a good indicator if you're very active in the market and you like to react every time there is some bad/good news that is being reported. But remember that always you should be proactive and you should "buy the rumors and sell the news". And, if you don't want to regret what you'll decide to, just HODL and stay calm.

It is always best to keep yourself updated as you can get an idea where the market is heading to. We have so many indicators in this market, and yet, the actual scenario may not follow any of these indicators. It can be influenced by big companies announcing their sell-off or buy-in. And yes, it is always good to be aware of the rumors, because it can really help you in taking advantage of the market.

[shinratensei_]

just by seeing RSI index, market fear and greed index and so on I think good indicator enough for people trying to paint the market sentiment.
in general its just how the market perception towards the future by taking into account all the bad and good news as well as technical indicators.



but its not necessarily means the price will just follow market sentiment though, sometime price just pumps out of the blue.

[Don Pedro Dinero]

but its not necessarily means the price will just follow market sentiment though, sometime price just pumps out of the blue.

Yes, it is not an indicator that we can rely on 100% to make predictions, as no other indicator is. What doesn't quite add up for me is that it shows extreme fear, I just checked it myself. Extreme fear of what? I suppose it is simply a way of indicating that the bitcoin market is underbought, but I wouldn't say there is fear. There was not so long ago when the price went down to $17,000 and there were already people thinking it would go down to $10,000 and beyond.

[electronicash]

the fundamentals is what you are going to wait to happen. because the politics is just heating up and this might just be the event that could change sentiments either from good to bad or vice verse.

the election is going to be the trigger whether we will really have a bull market or not 🤪 wars + Trump winning the crypto community + Biden mental degradation + election = crazy market.

[tabas]

Every indicator can be as useful as they can be at times like this when unexpected motion of BTC happens. Aside from the greed and fear index, there goes the fundamentals and news that we're having. They can be a good indicator if you're very active in the market and you like to react every time there is some bad/good news that is being reported. But remember that always you should be proactive and you should "buy the rumors and sell the news". And, if you don't want to regret what you'll decide to, just HODL and stay calm.

It is always best to keep yourself updated as you can get an idea where the market is heading to. We have so many indicators in this market, and yet, the actual scenario may not follow any of these indicators. It can be influenced by big companies announcing their sell-off or buy-in. And yes, it is always good to be aware of the rumors, because it can really help you in taking advantage of the market.

Updated in everything that's happening to the market. Whether you'd be good with the charts of not, whatever is happening to the market you can have the advantage of how you'd react. But basically, for the long-term investors, there's no need to be proactive at all with what's happening. We just wait and sit and sell when the price is up. However for someone to learn, there are basic steps that we've mentioned that needs to be done but most of them are effortless.

[EluguHcman]

Just be aware that you can not stay a 100% total free lost in the market but you can always recover for your lost if you are patient enough and just keep holding because the crypto market is volatile of fluctuating UPs and DOWNs and that typically makes investors not getting what was expected in a specific period of time but only patient can holding can get you reach to it.

Also, there is no strategy of even an AI that can determine the future direction of Bitcoin to alert you that this is what is going to happen in the Bitcoin market tomorrow or in the next minute. Rather a sensitive tool like that will only help you to keep eyes up in the market as you personally may not be able to keep eyes 24/7 monitoring at the market in other to take an immediate action to stop lost by exiting your trades or to sell of your coins.

And this probably happens out of FOMO which you might regret it if you can not afford to dare and take the risk of keep holding because a fallen market today has a tendency of rising at any given time.

[legendbtc]

I have been observing the market trend recently and have seen that the patters are not so consistent with what I expected although it has been ranging, but I will like to know when I can easily spot when the market will change direction, is there any indicator I can combine to make a thoughtful decision that I will not regret?

If you have your customised indicator settings you could as well share for the sake of learning.

In my opinion, the market is unpredictable and all indicators are for reference only, we should not be too dependent and trust them completely. That's why investing for the long term and using a DCA strategy is always the most effective investment method when it comes to cryptocurrencies.

People often compare the market to a battlefield, it is extremely fierce, there are always winners and losers and there will never be a scenario where everyone wins. So, if there really was an indicator that could tell us exactly what the market will be like tomorrow, do you think someone would provide it to us so easily?

[Wexnident]

~

There's not really a set metric, not easy as well and the market can just suddenly change its direction an hour after it suddenly does something so I wouldn't expect to find something solid. You can base it off of some stuff, but god knows how much it says is an actual influence. It's one alright, just that we don't know by how much, probably not that much even in the first place.

Personally I just look at the buys/sells of whales plus the Greed and Fear index. Oh and add referencing to history as well.