Cathie Wood's Optimistic Bitcoin Outlook Signals End of Major Selling Pressure
- Market Pressure Easing: Cathie Wood highlighted in a CNBC interview that the $28 billion deleveraging event, which caused Bitcoin's price decline due to a software error on Binance last October, has largely subsided, providing a foundation for Bitcoin's stabilization.
- Price Range Prediction: Wood forecasts Bitcoin will consolidate between $80,000 and $90,000, a prediction grounded in technical analysis models that identify these levels as key psychological and resistance zones, potentially setting the stage for a future bull market.
- Four-Year Cycle Analysis: Wood's reference to Bitcoin's four-year cycle is closely tied to halving events, with historical data indicating that price increases typically follow halving; the current phase is viewed as the final consolidation before the next upward movement.
- Broad Market Implications: Wood's analysis not only impacts Bitcoin but could also drive developments across the entire digital asset ecosystem, with expectations for increased institutional adoption, regulatory clarity, and ETF growth, further bolstering market confidence.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 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 stock.
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 | 0.0609 | 0.0686 | 0.0777 | 0.0855 | 0.0946 | 0.102 | 0.111 |
| Fibonacci | 0.0686 | 0.0751 | 0.079 | 0.0855 | 0.0919 | 0.0959 | 0.102 |
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