Confirmation of Bitcoin's death cross may indicate that BTC has entered a bear market.
Bitcoin's Death Cross: Bitcoin has flashed a "death cross" on its daily chart, a technical pattern that historically precedes significant price declines, with past occurrences leading to drops of 64% to 77%.
Bear Market Confirmation: The price of Bitcoin has dropped to $80,000, closing below key support levels, which analysts suggest confirms its entry into a bear market.
Realized Losses Surge: Bitcoin realized losses have exceeded $800 million, driven primarily by short-term holders selling at a loss, reminiscent of the market conditions following the FTX collapse in 2022.
Market Outlook: Analysts warn that if Bitcoin fails to reclaim its 50-week moving average, it may indicate a deeper bearish trend, with predictions suggesting a potential decline toward the April bottom of $74,500.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X) As of , X Empire (X) 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 X 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, X 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 $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000595 | 0.00000891 | 0.0000115 | 0.0000145 | 0.000017 | 0.00002 | 0.0000226 |
| Fibonacci | 0.00000891 | 0.000011 | 0.0000123 | 0.0000145 | 0.0000166 | 0.0000179 | 0.00002 |
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