Analysis and trading strategy for Bitcoin today:

1. Fear & Greed Index:

• The index has fluctuated between 20 and 48 over the past two weeks, indicating that the market sentiment is predominantly Fear. When the index is low, like 20 on August 9th, the market often tends to recover as fear becomes excessive. Conversely, when the index reached 48 on August 11th, it showed that the market sentiment was becoming more greedy.

2. Bitcoin Price Analysis:

• Currently, the price of Bitcoin is $60,866.90, showing a 4.5% increase for the day. In the 1-day price chart, there is a slight recovery from a recent low. The trading volume is moderate, indicating renewed interest from investors.

3. Trading Strategy:

• Buy: If you’re looking for a buying opportunity, consider entering near a strong support level around $60,000 or if the Fear & Greed Index continues to decline. A lower index may signal a good buying point when market sentiment is still fearful.

• Sell: If the price continues to rise, consider selling at strong resistance levels like $62,000 or $65,000. It might be wise to take profits if the Fear & Greed Index rises further, indicating that greed may have peaked.

• Stop-loss: Place a stop-loss below the nearest support level, such as $58,000, to protect your account in case the market turns sharply bearish.

⭐️⭐️ In conclusion, the market is in a slight recovery phase, but caution is advised as the Fear & Greed Index still reflects unstable sentiment. Keep a close eye on support and resistance levels for making informed trading decisions.