US debt rises to $36.6T: Will recession signals send Bitcoin back to $95K?
US Debt and Housing Market Impact on Bitcoin: The US national debt has surged to an all-time high, raising concerns that economic stress in the housing market could lead to a significant correction in Bitcoin's price, potentially dropping it to $95,000.
Correlation with Federal Reserve Policies: Bitcoin's performance is closely linked to macroeconomic trends and Federal Reserve policies, with speculation around potential changes in leadership at the Fed influencing market sentiment and Bitcoin's future trajectory.
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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 | 41902.917 | 50951.459 | 61326.917 | 70375.459 | 80750.917 | 89799.459 | 100174.917 |
| Fibonacci | 50951.459 | 58371.427 | 62955.491 | 70375.459 | 77795.427 | 82379.491 | 89799.459 |
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