This morning, the Fear & Greed Index stood at 23/100.
Earnings and Fed policy sank the US majors in the week, which spilled over to the crypto market.
On the economic calendar, there are several key US stats to consider.
Bitcoin will need to move through the day’s $39,482 pivot to target the First Major Resistance Level at $39,922.
In the event of another extended rally, Bitcoin could test the Second Major Resistance Level at $40,384.
Failure to move through the pivot would bring the First Major Support Level at $39,026 into play.
This morning, we have seen the 50-day EMA pull further back from the 100-day EMA, delivering downside pressure.