Crypto Traders Cautiously Await CPI Data Release
- CPI Data Impact: Analysts expect January CPI to rise 0.3% month-over-month, potentially lowering annual inflation to 2.5%, which directly influences Fed policy, leading to cautious market sentiment and potential volatility in cryptocurrency prices.
- Bitcoin Support Level: Bitcoin finds near-term support at $66,000; if it drops below this level, the market could slide to $64,000 and potentially $60,000, which may serve as a catch zone for long-term buyers.
- Ethereum Price Movement: Ethereum hovers around $1,990, having risen 1.9% recently; if it maintains above the $1,850 support level, it could drive prices toward the $2,000-$2,100 resistance zone.
- Ripple Technical Analysis: Ripple (XRP) trades around $1.40, up 2%; if it breaks past the $1.45 resistance, it may move toward $1.60, but a drop below $1.35 could lead to a decline toward $1.28.
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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 | 40819.519 | 50409.759 | 60006.329 | 69596.569 | 79193.139 | 88783.379 | 98379.949 |
| Fibonacci | 50409.759 | 57739.121 | 62267.208 | 69596.569 | 76925.931 | 81454.018 | 88783.379 |
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