Bitcoin Price Review: Is BTC Poised for Stability Following a Significant 25% Drop from Its All-Time High?
Current Price Action: Bitcoin is attempting to stabilize around the $95,000 mark after a significant drop from $110,000, with short-term support forming in the $93,000–$95,000 range, while the overall trend remains bearish.
Technical Indicators: The daily chart shows a bearish cross between moving averages, indicating a negative structure, while the 4-hour chart suggests a potential short-term bounce if buyers can reclaim the $96K level.
On-Chain Metrics: The exchange whale ratio has increased, indicating that large holders are dominating exchange inflows, which could lead to increased volatility or sell-offs if the price does not recover soon.
Market Outlook: While the overall structure remains bearish, there are signs of potential short-term relief; however, failure to hold key support levels could lead to further declines towards $90K or $88K.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) 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 BTC 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, BTC 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 (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36140.792 | 48070.396 | 60410.812 | 72340.416 | 84680.832 | 96610.436 | 108950.852 |
| Fibonacci | 48070.396 | 57341.544 | 63069.268 | 72340.416 | 81611.564 | 87339.288 | 96610.436 |
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