Bitcoin price today: steadies at $69k as rate fears mount before Fed, CPI By Investing.com
- Bitcoin Price Movement: Bitcoin price stabilized after a weekend drop following a high of $72,000, impacted by profit-taking and the dollar's rebound.
- Market Focus on U.S. Interest Rates: Traders are closely watching signals on U.S. interest rates, with the Federal Reserve expected to maintain rates during an upcoming meeting.
- Impact of Economic Data: The weekend decline in Bitcoin was influenced by a strong nonfarm payrolls reading, leading to a boost in the dollar and concerns about high rates affecting cryptocurrencies.
- Upcoming Events: The focus is on the Federal Reserve meeting and the release of the consumer price index (CPI) inflation data, which is anticipated to show inflation above the Fed's target.
- Broader Crypto Market Trends: Altcoins experienced losses over the weekend due to fears of high rates and profit-taking, with Ether steadying but other cryptocurrencies like XRP, SOL, ADA, SHIB, and DOGE showing mixed movements.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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