$BTC has been experiencing a mix of volatility and stability in recent times. As of today, May 29, 2024, here's a brief analysis of the trend:
Short-term trend (last 7 days):
Neutral/Bearish
- Bitcoin has been trading within a narrow range of $28,000 - $30,000.
- A slight decline of around 3% in the last 7 days.
Medium-term trend (last 30 days):
Bullish
- Bitcoin has shown a steady increase of around 15% in the last 30 days.
- A clear uptrend is visible, with higher highs and higher lows.
Market sentiment:
- Fear and Greed Index: 42 (Fear)
- Bitcoin Dominance: 46.3% (stable)
Technical indicators:
- RSI (14): 54.6 (neutral)
- MACD (12, 26): bearish crossover
Keep in mind that cryptocurrency markets are highly volatile, and trends can change rapidly. This analysis is for informational purposes only and should not be considered as investment advice. Always do your own research and consult a financial professional before making investment decisions.
