Bitcoin Bottoming Out Completed, Bullish Trend Ahead
- Market Trend Analysis: Analyst Michaël van de Poppe states that Bitcoin has largely completed its bottoming out, with expectations for a short-term move towards the $90,000 to $95,000 range, indicating a recovery in market confidence.
- Technical Indicator Interpretation: Bitcoin's price has undergone necessary technical corrections, and while historical data suggests a possibility of pullback, the likelihood of falling below the 200-week moving average is considered low under current market conditions.
- Strengthening Support Levels: The analyst notes that the $60,000 level is gaining strength as a bottom, and the overall market recovery trend increases the likelihood of Bitcoin retesting the 50-week moving average, which is expected to act as a significant resistance point.
- Market Catalysts: Optimistic expectations surrounding the Clarity Act, strong performance in tech stocks, and developments from the Fed are seen as catalysts that could drive Bitcoin's price upward, although the analyst warns of potential corrections, especially if Bitcoin rises more than 50%.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT 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, ALT 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 $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00649 | 0.00693 | 0.00732 | 0.00776 | 0.00815 | 0.00859 | 0.00898 |
| Fibonacci | 0.00693 | 0.00724 | 0.00744 | 0.00776 | 0.00807 | 0.00827 | 0.00859 |
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