Cramer Turns Bearish on Bitcoin, Traders Interpret as Contrarian Signal
- Cramer’s Bearish Signal: CNBC host Jim Cramer has shifted to a bearish stance on Bitcoin, with Unbias tracking showing his recent BTC-related posts categorized as negative, a change that traders interpret as a contrarian signal that could impact market sentiment.
- Market Structure Warnings: Cramer’s commentary has focused on market structure and leverage, warning about derivatives and heavily indebted 'bitcoin pseudo-companies', which may lead to a decline in investor confidence and affect short-term price movements for Bitcoin.
- Reverse Indicator Phenomenon: Traders widely believe that Cramer’s strong opinions often coincide with market turning points, suggesting that his bearish comments could prompt a short-term bounce in Bitcoin, reinforcing the psychological dynamic known as the 'Cramer curse'.
- Bitcoin Price Action: As of now, Bitcoin is trading around $87,586, up approximately 0.5% over the past 24 hours, but remains in a fragile range due to thin holiday trading volumes, facing resistance at $93,000 and support at $81,000.
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 4 technical signals, shows that 1 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 | 36391.603 | 48195.801 | 61127.353 | 72931.551 | 85863.103 | 97667.301 | 110598.853 |
| Fibonacci | 48195.801 | 57644.858 | 63482.495 | 72931.551 | 82380.608 | 88218.245 | 97667.301 |
About BTC
About the author
