Bitcoin Breaks Below $84,000 Support, Bearish Momentum Grows
- Bitcoin Price Decline: Bitcoin's breach of the $84,000 support level indicates a shift towards bearish momentum, with potential further declines towards $74,508 if selling pressure persists, prompting investors to closely monitor critical support levels.
- Surge in Liquidations: Approximately $1.77 billion in Bitcoin liquidations occurred in the last 24 hours, highlighting increased liquidity risk in the market, which could lead to heightened volatility in the near term.
- Major Altcoins Under Pressure: Several leading altcoins have slipped below crucial support zones, suggesting that selling pressure is broadening, which may result in a more extensive consolidation or renewed downside pressure, affecting overall market sentiment.
- Technical Key Points: The price action around $80,600 is critical for Bitcoin; a sustained break below this level could accelerate the downward trend towards $74,000, while holding above it may set the stage for a potential rebound.
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Technical Analysis for BCH
Technical Sentiment Analysis for Bitcoin Cash (BCH) As of , Bitcoin Cash (BCH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BCH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BCH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin Cash (BCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 305.627 | 364.313 | 442.427 | 501.113 | 579.227 | 637.913 | 716.027 |
| Fibonacci | 364.313 | 416.571 | 448.856 | 501.113 | 553.371 | 585.656 | 637.913 |
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