Crypto Search Volumes Hit One-Year Low as Investor Sentiment Remains Bearish
- Declining Search Interest: Global search interest in 'crypto' has dropped to a 12-month low of 26, indicating a significant reduction in retail investor enthusiasm, which may lead to further market liquidity issues.
- Panic Market Sentiment: The Crypto Fear & Greed Index has fallen to 10, reflecting extreme fear among investors, with ongoing market volatility exacerbating caution among participants.
- Significant Liquidation Events: The October market crash triggered nearly $20 billion in leveraged liquidations, with some assets plummeting by nearly 99% in a single day, further undermining investor confidence and increasing market uncertainty.
- Bitcoin Price Decline: Bitcoin's price has retreated from over $125,000 earlier this year to below $80,000, and while it currently stabilizes within the $80,000 to $90,000 range, persistent bearish sentiment limits its rebound potential.
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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 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 | 36425.103 | 48212.552 | 61160.853 | 72948.302 | 85896.603 | 97684.052 | 110632.353 |
| Fibonacci | 48212.552 | 57661.608 | 63499.245 | 72948.302 | 82397.358 | 88234.995 | 97684.052 |
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