BTC price analysis today 29/2024

Here's a Bitcoin price analysis for today ¹:

Price:

• Last Price: $62,028


• Daily High: $63,930


• Daily Low: $61,890

Market Analysis:

• Bitcoin's price is experiencing a period of high volatility, with rapid fluctuations within a narrow range.


• Technical indicators suggest a neutral to bearish sentiment, with a potential for a short-term price drop.


• The long-term outlook remains bullish, with a strong support level at $60,000.

Technical Indicators:

• RSI (Relative Strength Index): 50.23 (neutral)


• MACD (Moving Average Convergence Divergence): bearish crossover


• 50-day moving average: $63,500


• 200-day moving average: $58,000

Market Sentiment:

• Fear and Greed Index: 52 (neutral)


• Social media sentiment: mixed, with a slight bearish bias

Fundamental Analysis:

• Global economic uncertainty continues to support Bitcoin's safe-haven narrative.


• Regulatory clarity and increasing institutional adoption remain long-term bullish factors.