Will Bitcoin be at or above $77,500 on Aug 29?
Signal ended
Entry · YES60¢
PublishedAug 29
Aug 29 forecast
Bitcoin has recovered just above the cutoff after a sharp selloff, so an Aug. 29 price at or above $77,500 is favored but far from guaranteed.
Several Aug. 29 readings place Bitcoin above $77,500, and the recovery from sub-$77,000 lows supports an above-threshold outcome. However, the cushion is thin, momentum recently turned bearish, and hawkish monetary-policy remarks have already produced swings large enough to reverse the result quickly.
Points to YES
- A current reading above the threshold gives Bitcoin a modest cushion that raises the chance of remaining above it at the relevant observation.On Aug. 29, Bitcoin traded at $77,618 at 12:45 UTC, within a 24-hour range of $76,962 to $79,992.
- The rebound from the session low shows buyers can reclaim the threshold, improving the path to an above-threshold reading.On Aug. 29, Bitcoin traded at $77,813 after recovering from a session low of $76,845.
Points to NO
- The extremely small margin above the cutoff leaves ordinary intraday movement capable of producing a below-threshold result.On Aug. 29, Bitcoin was reported at $77,551.04 after reaching a daily low of $77,350.58.
- Strong downward momentum raises the risk that selling resumes before the relevant reading.On Aug. 29, Bitcoin had fallen 3.5% to $77,417 after retreating from an intraday high of $81,148.
- Hawkish monetary-policy messaging can prolong pressure on risk-sensitive assets and trigger another threshold-breaking move.On Aug. 28, Federal Reserve Chair Kevin Warsh said inflation remained too high and policymakers had more work to do if price pressures did not ease toward target.
Research and information only. Not financial advice or a recommendation to trade. Markets involve risk, including loss of capital. Review venue rules and eligibility before trading.