Following macroeconomics correlations, the cryptocurrency analyst known as CoinsKid believes that Bitcoin (BTC) is set for one last dump to the weekly 20 EMA price zone — of around $28,000 — before it could take off to a pump, as posted on August 7.
Some of his followers look at this bold prediction with skepticism, pointing to a “bearish sentiment” in general.
Checking the Fear & Greed (F&G) Index by CoinMarketCap, the sentiment is neither bearish nor bullish, but absolutely neutral — registering a mark of 50, right in the middle of the F&G chart, which reflects recent price action of BTC lateralization.
Fear & Greed Index by CoinMarketCap
Despite the negative comments from his followers and neutral sentiment from this index, CoinsKid seems convinced of his own analysis. In his tweet, the expert draws a triangle in the weekly Bitcoin chart — where one price candle equals one week — showing an important decision zone for BTC.
According to this short post,
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