Bitcoin (BTC) Drops Below $90,000 as Holders Face Critical Decision
- On-Chain Stress Intensifies: Analyst Darkfost reveals that an adjusted NUPL metric indicates Bitcoin holders are seeing unrealized profits and losses revert to levels typically observed at the end of bear markets, suggesting heightened market tension and a critical decision point for holders between accumulating or capitulating.
- Diverging Market Sentiment: As unrealized profits shrink and losses expand, the behavioral split among holders will impact market liquidity and sentiment, determining the next price trend; Bitcoin is currently trading around $89,000, reflecting a 4.8% decline over the week.
- Psychological Price Challenge: The Bitcoin market has repeatedly failed to reclaim the psychological $90,000 threshold, and a defense of the $88,000 to $90,000 zone, followed by a push above $92,000 to $95,000, could signal an attempt at market recovery.
- Potential Retracement Risk: Continued failure to stabilize may lead to a deeper retracement below the $80,000 area, exacerbating the bear market, prompting investors to closely monitor market developments for strategic decision-making.
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Technical Analysis for EPT
Technical Sentiment Analysis for Balance (EPT) As of , Balance (EPT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for EPT 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, EPT 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 $-.
Balance (EPT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.000367 | 0.0000983 | 0.000437 | 0.000902 | 0.00124 | 0.00171 | 0.00204 |
| Fibonacci | 0.0000983 | 0.000405 | 0.000595 | 0.000902 | 0.00121 | 0.0014 | 0.00171 |
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