Bitcoin Prediction 2024 August 6th
BTC Price:
$55,125
UTC Time: 10:39 AM
Market Sentiment
Fear and Greed Index: 17 (Extreme Fear)
Technical Indicators
Relative Strength Index (RSI): 19
Key Support and Resistance Levels
Support: $49,550
Resistance: $56,300
Bitcoin Prediction
Given the current market sentiment and technical indicators:
Potential Upside:
If BTC can break above price at $55,425. it may test the next resistance level around $56,300
Potential Downside:
If BTC fails to hold the $55,000 it could drop to test the support levels at $49,550
Investment Plan:
Bitcoin Short Selling:
Around $55,200
Stop Loss:
Around $56,000
Take profit:
Around $49,550
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.