Crypto Traders Hold Steady Ahead of CPI Release Amid Growing Q4 Optimism
Current Market Status: Bitcoin is stabilizing just above $110,000 and Ether is fluctuating between $4,300 and $4,500, with increased demand for protective puts indicating traders are cautious about potential inflation impacts on the Fed's rate decisions.
Market Predictions: Analysts suggest a 23% chance for Bitcoin to exceed $140,000 and Ether to surpass $7,000 by December, with Q4 historically being a strong period for Bitcoin, especially if the Fed maintains a dovish stance.
ETF Flows and On-Chain Data: Spot Bitcoin ETFs saw over $360 million in inflows, while Ether products experienced nearly $100 million in redemptions; however, on-chain data indicates that ETH is being withdrawn for staking rather than being sold off.
Investment Caution: The article emphasizes that the information is for informational purposes only and advises conducting personal research and consulting financial advisors before making investment decisions.
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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 | 36103.434 | 48051.717 | 60373.454 | 72321.737 | 84643.474 | 96591.757 | 108913.494 |
| Fibonacci | 48051.717 | 57322.865 | 63050.589 | 72321.737 | 81592.885 | 87320.609 | 96591.757 |
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