Bitcoin price today: flat at $67k amid rate cut cues, softer inflation By Investing.com
- Bitcoin Price and Federal Reserve: Bitcoin price remained stable after a volatile session due to the Federal Reserve's forecast of high interest rates for longer overshadowing signs of cooling inflation.
- Fed's Rate Cut Forecast: The Fed hinted at only one rate cut this year, contrary to previous expectations of three cuts, leading to caution among traders towards Bitcoin and cryptocurrencies.
- Impact of High Rates on Crypto: High interest rates negatively affect speculative assets like cryptocurrencies by limiting available liquidity for investment, despite some institutional money flowing into the sector.
- Altcoins and Market Reaction: Altcoins like Ether, ADA, XRP, and SOL experienced mixed movements amid concerns over U.S. interest rates, with meme tokens like SHIB and DOGE also showing varied performance.
- Market Trends: The broader cryptocurrency market was influenced by the Fed's comments, with meme stocks like GameStop losing ground and sentiment cooling towards meme tokens.
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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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