Analyst Cautions of Significant Crash if Bitcoin Falls Below $63,000
Bitcoin Price Decline: Bitcoin's price fell 3% to $88,000, recovering from a low of $84,500, with significant support at $84,500 and potential further declines to $83,300 and $63,000 if broken.
Support and Resistance Levels: Analysts indicate that if Bitcoin drops below $83,307, it could face major support levels at $79,520, $70,685, and $63,111, while resistance exists at $90,000, $92,000, and $94,000.
Market Sentiment: The cryptocurrency has lost 30% since its peak last October, raising concerns about the sustainability of the current bull market.
Impact of Federal Reserve Actions: A recent interest rate cut by the US Federal Reserve led to a temporary spike in Bitcoin's price, but it was followed by a significant decline, highlighting the volatility in the market.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X). As of , X Empire (X) 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 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 crypto.
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 | 0.00000575 | 0.00000881 | 0.0000113 | 0.0000144 | 0.0000169 | 0.0000199 | 0.0000224 |
| Fibonacci | 0.00000881 | 0.0000109 | 0.0000122 | 0.0000144 | 0.0000165 | 0.0000178 | 0.0000199 |
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