Analyst: US Strike on Venezuela Unlikely to Impact Bitcoin Price
- Market Stability: Following the US strike on Venezuela at 6:00 AM UTC on Saturday, analysts believe Bitcoin's price is unlikely to experience significant declines in the coming days, reflecting the market's resilience to geopolitical events.
- Price Recovery: Bitcoin has risen 1.66% over the past 24 hours, reclaiming the $90,000 level with a current trading price of $91,290, demonstrating its stability amid uncertainty.
- Leverage Liquidation: Approximately $60.04 million in Bitcoin leveraged positions were liquidated in the last 24 hours, with shorts accounting for $55.01 million, indicating market participants' sensitivity to price fluctuations.
- Market Sentiment: Analysts note that while Bitcoin has historically been volatile during geopolitical tensions, this event may not trigger widespread market corrections and could instead be perceived as a sign of strength in the market.
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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 3 technical signals, shows that 0 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 | 36103.434 | 48051.717 | 60373.454 | 72321.737 | 84643.474 | 96591.757 | 108913.494 |
| Fibonacci | 48051.717 | 57322.865 | 63050.589 | 72321.737 | 81592.885 | 87320.609 | 96591.757 |
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