Bitcoin's $87,200 Support Defines Market Structure and Directional Bias
- Support Level Analysis: Bitcoin's $87,200 support is identified as crucial for market stability, with a daily close below this level potentially exposing liquidity towards $80,600, which could trigger selling pressure and impact short-term price action.
- Market Structure Changes: Maintaining the $87,200 support indicates that buyers are absorbing selling pressure; a breach would confirm trendline failure and could lead to deeper historical demand zones being tested, affecting market confidence.
- Resistance Zone Definition: Current resistance is set between $92,700 and $96,800, and if prices break through this range, it could trigger short covering and liquidity release, pushing prices towards the psychological levels of $98,000 to $100,000.
- Whale Behavior Observation: Large traders on Bitfinex are reducing leveraged long positions, indicating that the market is effectively absorbing selling pressure while prices remain stable, which typically signals potential for future price increases.
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Technical Analysis for EPT
Technical Sentiment Analysis for Balance (EPT) As of , Balance (EPT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for EPT 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, EPT 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 $-.
Balance (EPT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00157 | -0.000504 | 0.000152 | 0.00122 | 0.00188 | 0.00294 | 0.0036 |
| Fibonacci | -0.000504 | 0.000155 | 0.000562 | 0.00122 | 0.00188 | 0.00229 | 0.00294 |
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