Bitcoin Market Dynamics Continue to Volatile
- Bitcoin Price Recovery: Following a sharp downturn last week, Bitcoin has partially rebounded to $77,000, with the market capitalization reaching $2.57 trillion and daily trading volumes around $60 billion, indicating potential recovery and investor interest.
- Binance Bitcoin Inflows: Over the past ten days, Binance has seen significant Bitcoin inflows, rising from a weekly average of 378 BTC on May 16 to 1,190 BTC by May 25, with a notable single-day influx of over 3,600 BTC on May 18, reflecting increased confidence in the exchange.
- ETF Outflow Trends: Despite a minor rally in Bitcoin's price, ETF outflows totaled $1 billion in May, with $1.2 billion exiting in the last week alone, raising concerns about the sustainability of ETF investments and necessitating caution among investors.
- Active Whale Participation: According to Alphractal, wallets holding over 1,000 BTC increased by 47,000 BTC in the last two weeks, indicating strong participation from large investors, particularly as a strategy fund acquired 24,869 BTC last week, showcasing diverse investment strategies in the market.
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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 | 0.0396 | 0.0488 | 0.0546 | 0.0638 | 0.0696 | 0.0787 | 0.0846 |
| Fibonacci | 0.0488 | 0.0545 | 0.058 | 0.0638 | 0.0695 | 0.073 | 0.0787 |
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