Market Update-
It was not a surprise to see BTC wick down to the $40.6k area yesterday, after a weak reaction from the previous areas of support. The $40.6k area was also the area of the September lows and has acted as resistance at times throughout 2021. Although still bullish on HTFs, the fear and greed index is currently reading 10 (Extreme Fear.)
https://alternative.me/crypto/fear-and-greed-index/
We can still expect to have a good alt run in the coming weeks, and we are already seeing signs of that with many coins holding strong.
In the short term, we still want to see any daily close above $40k, but I do believe there is a chance that we see a long wick to the $38.5k area before a reversal.
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