Bitcoin Risks $70K as Analyst Flags Fed’s $106B Liquidity Alarm
- Price Stagnation: Bitcoin's price has remained effectively unchanged over the past week, trading around $90,300 with less than 2% movement, indicating a lack of momentum that could lead to declining investor confidence.
- Bearish Target Setting: Analyst Doctor Profit maintains short positions initiated between $115,000 and $125,000, now targeting a drop to the $70,000-$75,000 area, suggesting potential further downside pressure in the market.
- Liquidity Warning: The Federal Reserve injected over $106 billion in short-term liquidity to banks this week, which the analyst views as a significant red flag for financial stability that could negatively impact speculative assets like Bitcoin.
- Mixed Market Sentiment: Despite Bitcoin's correction being only 29%, far shallower than the historical 70%-90% bear market declines, investor sentiment remains mixed, reflecting uncertainty about future price movements.
Get Real-Time Alerts for Any Crypto Movement
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 | 36142.556 | 48071.278 | 60412.576 | 72341.298 | 84682.596 | 96611.318 | 108952.616 |
| Fibonacci | 48071.278 | 57342.426 | 63070.15 | 72341.298 | 81612.446 | 87340.17 | 96611.318 |
About BTC
About the author
