Bitcoin Price Hovers Around $90K, Analyst Predicts $180K in 21 Days
- Price Fluctuation: Bitcoin's price has slightly decreased over the last 24 hours, currently trading at $90,336, indicating market indecision as it hovers around the $90,000 mark.
- Analyst Optimism: Fundstrat's Tom Lee predicts Bitcoin could rally to $180,000 by the end of January, driven by improved liquidity and increased institutional involvement, suggesting a restoration of market confidence.
- ETF Impact: Lee highlights that the increased use of Bitcoin ETFs will drive mainstream adoption beyond speculative trading, potentially attracting more investors into the market and further boosting prices.
- Technical Analysis: Bitcoin trades above the 50-day Simple Moving Average (SMA), indicating a bullish short-term outlook despite downside risks, with key support levels at $89,015 and $87,340, reflecting cautious market sentiment.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 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 stock.
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 | 36118.443 | 48059.221 | 60388.463 | 72329.241 | 84658.483 | 96599.261 | 108928.503 |
| Fibonacci | 48059.221 | 57330.369 | 63058.094 | 72329.241 | 81600.389 | 87328.114 | 96599.261 |
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