Bitcoin Price Faces Key Resistance and Support Levels
- Market Sentiment Dismal: Bitcoin is range-bound between $68,000 support and $75,000 resistance, with the Fear and Greed Index indicating extreme fear for 46 consecutive days, reflecting a severely low market sentiment that could undermine investor confidence.
- Whale Accumulation Surge: Despite the dismal market sentiment, whale wallets accumulated 270,000 BTC over the past 30 days, marking the largest sustained buying spree since 2013, indicating that long-term holders are absorbing selling pressure from retail investors.
- Key Catalysts Approaching: Between April 22 and 29, the expiry of the Iran ceasefire, the Senate markup of the CLARITY Act, and the FOMC meeting will occur in succession; if resolved favorably, analysts project Bitcoin could rise to $75,000 to $80,000 by the end of April.
- Increased Market Fragility: Analysts note that tax selling and uncertainty surrounding the war will likely suppress Bitcoin's rally attempts, and if the price falls below $68,000, liquidation risks for short-term holders will increase, potentially driving the price down to $65,000.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 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 crypto.
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 | 59767.278 | 63749.644 | 68073.268 | 72055.634 | 76379.258 | 80361.624 | 84685.248 |
| Fibonacci | 63749.644 | 66922.532 | 68882.746 | 72055.634 | 75228.522 | 77188.736 | 80361.624 |
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