U.S. Traders Rebound as Bitcoin Purchasers, While Asia Continues to Sell
U.S. Trading Hours Shift: U.S. trading hours have transitioned to net buying for Bitcoin, with cumulative returns now positive for the week, while Asian sessions continue to dominate selling, resulting in negative returns for that region.
Crypto Sentiment Decline: The Crypto Fear and Greed Index has dropped to an extreme fear level of 20, reflecting a significant decrease in risk appetite among traders, despite Bitcoin's price fluctuations.
Key Support and Resistance Levels: On-chain data indicates that $84,570 is a crucial support level for Bitcoin, while $112,340 serves as a significant resistance point, highlighting areas of concentrated supply and demand.
Market Dynamics: The contrasting trading behaviors across regions suggest that while U.S. traders are providing net demand, European and Asian markets are still struggling, with Europe showing some recovery but remaining below previous levels.
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 | 36430 | 48215 | 61165.75 | 72950.75 | 85901.5 | 97686.5 | 110637.25 |
| Fibonacci | 48215 | 57664.056 | 63501.694 | 72950.75 | 82399.807 | 88237.443 | 97686.5 |
About BTC
About the author
