What is Market Sentiment?
Trading is hot and cold.
Sometimes you can be deep-seated, waist-deep in green. At other times, the market is brutal, characterized by traders wishing for a market correction to break even. When things go haywire, stomaching a hard-to-take loss is the only thing on offer.
This demonstrates that the so-called market is, after all, 'human'—with a few emotionless bots.
The market sentiment is the general 'feel' among traders.
A sentiment indicator reveals how a group 'feels' about the market at a given point in time.
A sentiment indicator would, in real-time, graphically show the consensus of any digital asset or currency.
If, for example, Ethereum is trending higher, the general market sentiment will be bullish.
On the other hand, if Bitcoin is crashing, the general market sentiment will be bearish.
Overly, market sentiment can help a fundamental or technical analyst place position in line with the prevailing trend or contrary to the mainstream.
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