Bitcoin Prediction 2024 August 5th
BTC Price:
$52,727
UTC Time: 9:28 AM
Market Sentiment
Fear and Greed Index: 26 (Fear)
Volatility Index (VIX): 59.55 (Violent)
Bull/Bear Ratio: 0.8 (Bearish)
Technical Indicators
Relative Strength Index (RSI): 9.19
Key Support and Resistance Levels
Support: $48,888
Resistance: $53,843
Bitcoin Prediction
Given the current market sentiment and technical indicators:
Potential Upside:
If BTC can break above price at $53,843. it may test the next resistance level around $54,687
Potential Downside:
If BTC fails to hold the $53,000 it could drop to test the support levels at $48,888
Investment Plan:
Bitcoin Short Selling:
Around $53,000
Stop Loss:
Around $53,500
Take profit:
Around $49,000
Disclaimer: The opinions expressed are for informational purposes only and should not be construed as investment advice. Please do your own research before making any investment decisions.