Bitcoin Faces Major Sell Signal as Resistance Holds
- Technical Indicator Warning: Analyst Ali Martinez highlighted that the Tom DeMark Sequential indicator has flashed a sell signal on the 3-day chart, marking the first major bearish pivot of the year, which could significantly impact Bitcoin's price trajectory.
- Critical Support Level: If Bitcoin fails to stabilize and dips below the crucial $67,500 level, it could trigger a new bearish countdown, potentially extending the correction, with analysts suggesting a possible new bottom beneath $55,000.
- Market Performance Review: Bitcoin ended April on a high note with nearly a 12% increase, marking its best month since the previous April, reflecting market volatility and investor confidence.
- Strong Resistance Zone: Bitcoin has recently tested a strong resistance zone around $80,000, and while May has historically been positive for BTC, adverse developments in the war front could quickly shift market sentiment.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0378 | 0.047 | 0.0539 | 0.0631 | 0.07 | 0.0792 | 0.0861 |
| Fibonacci | 0.047 | 0.0532 | 0.057 | 0.0631 | 0.0692 | 0.073 | 0.0792 |
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