Bearish Bitcoin signal fires, raising chance for a 77% price drop

A bearish signal from Bitcoin’s SuperTrend indicator projected a major decline, which could be reinforced by the Crypto Fear & Greed index registering “extreme fear.”

Key takeaways:

Bitcoin’s Supertrend indicator sent a “sell” signal that has led to a 77% price drop in the past.

The crypto sentiment index in “extreme fear” suggests there is more pain ahead for Bitcoin investors.

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