Bitcoin Slumps to $89,311; Analyst Predicts Drop to $76,000
- Market Pessimism: Bitcoin has slumped to $89,311 and struggles to reclaim the $91,000 mark, reflecting a low investor sentiment as it has consistently faced major losses after each rise in recent months.
- Analyst Warning: Analyst Roman Trading predicts a further drop to $76,000 for Bitcoin, with a potential extreme dip to $56,000, indicating a lack of reversal signs and a significantly bearish long-term outlook.
- Volatility Expectations: Significant volatility is anticipated tomorrow due to employment data and the Supreme Court ruling, which could ease risk market tensions if the decision favors Trump.
- Policy Dynamics Impact: Trump's ban on institutional buyers from purchasing homes and the cancellation of dividends for defense companies may shock the real estate sector and Wall Street, while China's suspension of H200 chip orders from Nvidia adds pressure to the AI supply chain.
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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 | 36100.923 | 48050.461 | 60370.943 | 72320.481 | 84640.963 | 96590.501 | 108910.983 |
| Fibonacci | 48050.461 | 57321.609 | 63049.334 | 72320.481 | 81591.629 | 87319.354 | 96590.501 |
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