Well, these days, market impacted great over the past few weeks. But we should consider everything in account and see that, over-all market conditions entering in fear state due to some fundamentals news and #FUDS. Technical indicates that, price above $20,000 and $21,000 is well and good. We already recommend to tighten the stops and wait for the market to settle down.

Price broke the support level and this looks bearish now. This is a short selling opportunity with stop loss above $0.39 level. The next stop is $0.32-$0.33 support zone.

What exactly is a Fear and Greed Index?

The Crypto Fear and Greed Index analyzes a basket of different trends and market indicators to determine whether the market participants are feeling greedy or fearful. A score of 0 indicates extreme fear, while 100 suggests extreme greed. A score of 50 shows the market is somewhat neutral.

A fearful market could be an indication that cryptocurrencies are undervalued. Too much fear in a market can lead to overselling and excess panic. Fear doesn't necessarily mean that the market has entered into a long-term bearish trend. Instead, you can think of it as a short or mid-term reference to overall market sentiment.

Greed in the market is the opposite situation. If investors and traders are greedy, there's a possibility for overvaluation and a bubble. Imagine a situation where FOMO (fear of missing out) causes investors to pump the markets, overvaluing Bitcoin’s price. In other words, the increased greed may lead to excess demand, artificially inflating the price.

Here's the analysis of #LINK :

#LINK is building up and bear flag, just below the hourly resistance zone of $6.71 - $6.77. Price is been rejection the area, and if 4H candle closed Bearish with a rejection wick, then a short-sell will be highly probable.

#Bitcoin gained Bullish move after the #CPI data and break above the small Consolidation range. Price nearly tested out the previous range as resistance, can move slightly higher. Looking onto the daily TF, its more kinda retracement, which might finished

#HOOK broke below the consolidation range and fluently moved lower. Price also breaks the support zone and made a low near $2.10. If you took the breakout then its was 39% in profit. Currently, price retesting back and might reject from the resistance again around $2.855 - $2.971.

On January 19, 2023, #MVRV, an indicator of whether the price of #Bitcoin is undervalued or overvalued, broke through 1.0, and the current value is 1.12, which is still above the undervaluation zone.

What is a #Doji Candlestick ?

A #Doji candlestick is a type of chart pattern that is commonly used in technical analysis for trading. It is formed when the opening and closing prices of an #asset are virtually equal, resulting in a small body with long upper and lower shadows.

The #Doji candlestick is considered a reversal pattern, indicating a possible change in the direction of the trend. If it appears after an #uptrend, it may indicate a potential #reversal to a downtrend. Conversely, if it appears after a #downtrend, it may indicate a potential reversal to an #Trading uptrend.

The #Doji candlestick can provide important information about market sentiment, as it shows that neither buyers nor sellers were able to gain control during the period represented by the #candlestick. This can suggest that the market is undecided or that there is a lack of conviction among traders, potentially leading to a change in direction.

Here's the analysis of #WRX :

#WRX bounced-off of the major support level of $0.164 - $0.179 and currently, did gave a breakout of the small channel pattern. This doesn't mean a proper buys. Structure is been shifted to bearish as of now, so wait for the setup to form.

#Bitcoin moved exactly as we're watching on daily TF. Price is been in a retracement phrase and finished. Massively jumped higher and printed a new Higher High as of now. Price entered the major resistance zone of $24,450 - $24,800. Well, its a crucial point now, if price breaks above then we can see continuation further. Most probably, we gonna see a rejection now.

#ADA didn't came to our expected area and rallied up as #Bitcoin did. Price tapped out the major resistance zone and looks like it getting rejected. Its not the right time to enter shorts, as #Bitcoin is bullish. Keep an eye on breakout of the major resistance.

#Longs are pretty heavy in #Bitfinex, and bit in others too. Funding are also, moving very #positive, which shows, #long position traders are dominating. Market may play opposite to liquidate, over-leveraged traders 📈

There're variations of #Doji, which can be seen and used to confirmation and anticipation over the market.

1. Dragonfly #Doji: This pattern has a long lower wick and no upper wick, indicating that sellers were initially in control but then lost their momentum, leading to a potential reversal.

2. Gravestone #Doji: This pattern has a long upper wick and no lower wick, indicating that buyers were initially in control but then lost their #momentum, leading to a potential reversal.

3. Long-Legged #Doji: This pattern has long upper and lower wicks, indicating that the price has moved significantly up and down during the trading period. It suggests a high level of #indecision in the market.

Here's the analysis of #MKR :

#MKR on daily TF, moving inside the very large falling wedge pattern and bounced off from the major support of $454 - $475. currently, price rejected from the supporting uptrend line and kinda ranging now. No setups as of now, so better wait for further price action to develop

#Bitcoin gave an another small push, which goes above $25,000 and quarter. On 4H TF, its looks close above but on daily TF, its a proper rejection as we're anticipating. Currently, price have some clean move for going lower, and in-between structural support may work at $23,380.

What is Engulfing Candlestick Pattern ?

#Engulfing candlestick pattern is a popular candlestick pattern used in technical analysis to indicate a potential trend reversal or continuation. It is formed when a smaller candlestick is completely engulfed by the body of a larger #candlestick that follows it.

There are two types of Engulfing Candlestick patterns:

1. Bullish engulfing pattern: This pattern occurs when a small #bearish candlestick is followed by a larger #bullish candlestick, with the body of the latter completely covering or engulfing the body of the former. This pattern is usually seen as a bullish signal, indicating a potential reversal of a #downward trend.

2. Bearish engulfing pattern: This pattern occurs when a small #bullish candlestick is followed by a larger #bearish candlestick, with the body of the latter completely covering or engulfing the body of the former. This pattern is usually seen as a bearish signal, indicating a #potential reversal of an upward trend.

#LTC bounced from the major support but didn't gave any indication for entering into it. Currently, price is trading near the resistance area at $101.60 and possible retest will be back at support for entries.