Bitcoin price today: falls below $70k following payrolls data By Investing.com
- Bitcoin Price Movement: Bitcoin price fell below $70,000 due to a strengthening dollar following nonfarm payrolls data, declining 1.32% in the past 24 hours.
- Rate Cut Expectations: Expectations of Fed interest rate cuts by September boosted Bitcoin and broader crypto prices.
- Impact of Nonfarm Payrolls Data: Weak U.S. economic readings fueled expectations of looser monetary policy, benefiting risk-driven assets like cryptocurrencies.
- Technical Analysis on Bitcoin: Technical analysts predict Bitcoin could reach $83,000 soon, citing a bullish pattern on the daily chart and a potential breakout above $72,000.
- Altcoin Performance: Major altcoins, including Ether and ADA, experienced mixed movements with some weekly gains amid lower rate expectations and optimism over a spot Ether ETF.
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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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