Bitcoin price today: down to $55k as Mt Gox jitters rattle crypto By Investing.com
- Bitcoin Price Decline: Bitcoin's price dropped due to concerns over distributions from the now-defunct Mt Gox exchange, affecting overall cryptocurrency market sentiment.
- Mt Gox Distribution: Trustees of Mt Gox started distributing tokens to clients affected by a 2014 hack, leading to fears of increased selling pressure on Bitcoin.
- Altcoins Follow Bitcoin: Major altcoins like Ether, XRP, SOL, ADA, DOGE, and SHIB experienced losses as they tracked Bitcoin's decline in value.
- Market Impact: Selling pressure on Bitcoin spilled over into altcoins, with little support from a weaker dollar, despite optimism over potential interest rate cuts by the Federal Reserve.
- Upcoming Events: The market awaits cues from Fed Chair Jerome Powell's testimony and U.S. consumer price index inflation data for further direction.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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