Bitcoin Faces Key Test as Long-Term Holders Turn Sellers
- Long-Term Holders Shift: On-chain metrics indicate that long-term holders have transitioned from accumulation to selling, with a negative 30-day trend suggesting older coins are re-entering circulation, marking a regime change from scarcity-driven to demand-driven dynamics, potentially increasing short-term market fragility.
- New Whales Under Pressure: New whale wallets are facing pressure near the $99,000 price point, where many holders may opt to exit to avoid deeper losses, effectively turning this area into a major resistance level that could intensify selling pressure if revisited without strong momentum.
- Technical Structure Holding: Despite growing caution in market signals, Bitcoin remains above its 21-day moving average, and if it can maintain these levels through the weekend, another attempt towards $100,000 may be possible; however, trading below the 50-week simple moving average for nine consecutive weeks raises the risk of sharper corrections.
- Market at Inflection Point: Collectively, these signals suggest Bitcoin is at a critical junction, with long-term holders distributing, new whales under pressure, and medium-term trend indicators remaining fragile, meaning future price movements will likely depend on market reactions near the $99,000-$100,000 zone.
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Technical Analysis for TST
Technical Sentiment Analysis for Test (TST) As of , Test (TST) 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 TST 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, TST 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 $-.
Test (TST) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00564 | 0.00714 | 0.00895 | 0.0104 | 0.0123 | 0.0138 | 0.0156 |
| Fibonacci | 0.00714 | 0.0084 | 0.00918 | 0.0104 | 0.0117 | 0.0125 | 0.0138 |
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