Will Bitcoin be at or above $78,000 on Aug 29?
Signal ended
Entry · NO77¢
PublishedAug 29
Aug 29 forecast
Bitcoin was below the threshold hours before the specified noon observation after a sharp reversal, so a $78,000-or-higher close is a long shot.
Multiple Aug. 29 readings clustered below $78,000 after the prior session’s sharp reversal from above $81,000. A firmer dollar, higher short-term yields and fresh ETF outflows add pressure. Recent trading above the threshold and the pending Binance-specific observation preserve a narrow late-rebound path, but the required close is a long shot.
Points to NO
- Bitcoin remained below $78,000 only hours before noon ET, leaving limited time for the required recovery and reducing the chance of an above-threshold close.At 13:18:08 GMT on Aug. 29, the Nasdaq Bitcoin Reference Price Real Time index stood at $77,678.69.
- The prior session’s rejection above $81,000 and steep decline indicate weakened momentum that makes an immediate recovery less likely.On Aug. 28, Bitcoin opened at $80,255.70, reached $81,330.30, fell to $76,945.60 and recorded a 3.00% daily decline.
- Rising short-term yields and a stronger dollar create a less supportive backdrop for speculative demand, adding resistance to a rapid Bitcoin rebound.Following the Federal Reserve chair’s Aug. 28 remarks, the two-year Treasury yield rose to 4.312% and the U.S. Dollar Index advanced to 99.47.
Points to YES
- Bitcoin traded above $78,000 within the previous day, showing that a recovery across the threshold remains achievable through ordinary intraday volatility.At 12:45:40 UTC on Aug. 29, Bitcoin was $77,618, with a trailing 24-hour range from $76,962 to $79,992.
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