Brief Bitcoin Analysis

Fear & Greed Index (Last 2 Weeks)

• July 25 - July 31: High greed (68-74), price increased due to optimistic sentiment.

• August 2 - August 6: Index dropped sharply to fear (17-61), price decreased due to panic selling.

Bitcoin Price Analysis

• Current Price: $55,811.70, up 2.6%.

• Price fell from a peak of $65,000 to a low of $50,000 and is now slightly recovering.

Trading Recommendations

• Buy: When the Fear & Greed Index is below 20, indicating potential low prices.

• Sell: When the index is above 60, indicating potential high prices.

• Monitor support at $50,000 and resistance at $60,000 for informed trading decisions.

Conclusion

The market is recovering from extreme fear, suggesting a buying opportunity. However, closely monitor market trends to make well-informed decisions.

Or you can use our app, where we constantly monitor and notify in a timely manner. https://bionelabs.com