Bitcoin Surges Above $94,000, Boosting Related Stocks
- Bitcoin Price Surge: Bitcoin reached $94,634 during Monday's trading, gaining over 3% in 24 hours, marking its highest price in 30 days, which reflects strong market demand for cryptocurrencies and may attract more investors into the space.
- Ethereum's Strong Performance: Ethereum hit $3,253 during trading, recently trading at $3,241 with over 3% gains in the past day, indicating its sustained appeal in the crypto market, potentially driving more capital inflows into this asset.
- Coinbase and Robinhood Gains: Coinbase shares closed at nearly $255, up almost 8%, while Robinhood shares traded at approximately $123, gaining nearly 7%, indicating increased investor confidence in crypto trading platforms, which may boost their market capitalizations to about $69 billion and $111 billion, respectively.
- Mining Companies Show Significant Growth: Iris Energy's stock jumped 13% to $48.24, benefiting from a $9.7 billion deal with Microsoft, while Hut 8 shares rose 13.6% to $58.25 due to a $7 billion AI deal with Google, showcasing the potential of crypto mining firms in tech collaborations.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 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 | 41959.884 | 50979.942 | 61383.884 | 70403.942 | 80807.884 | 89827.942 | 100231.884 |
| Fibonacci | 50979.942 | 58399.91 | 62983.974 | 70403.942 | 77823.91 | 82407.974 | 89827.942 |
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