Bitcoin Reclaims $62,000 After Jobs Report
- Employment Data Impact: The U.S. added 57,000 nonfarm payrolls in June, significantly below the expected 115,000, which reduced market expectations for a Fed rate hike and propelled Bitcoin's price up over 4%, briefly surpassing $62,000.
- Market Sentiment Shift: Polymarket and CME FedWatch data indicated traders lowered rate hike expectations, anticipating the Fed will hold rates steady in July, which boosted confidence in risk assets and facilitated Bitcoin's rebound.
- Critical Technical Test: Analysts highlight that Bitcoin must reclaim the $62,500 level to confirm a robust recovery; a successful breakout would alter the prevailing market structure and establish the $57,000 low as a mid-cycle bottom.
- Momentum Indicators Improve: Bitcoin's MACD has completed a bullish crossover, indicating enhanced market momentum, while increased buying activity on major exchanges suggests strong spot demand, although some analysts caution that the current rally may merely be a relief rally.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT 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, ALT 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 $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00404 | 0.00472 | 0.00529 | 0.00597 | 0.00654 | 0.00722 | 0.00779 |
| Fibonacci | 0.00472 | 0.0052 | 0.00549 | 0.00597 | 0.00645 | 0.00674 | 0.00722 |
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