El Salvador Finalizes $1.4 Billion Loan Deal with IMF
IMF Loan Approval: The International Monetary Fund (IMF) has approved a $1.4 billion loan for El Salvador, focusing on economic reforms and risk mitigation related to Bitcoin, with a compliance deadline set for the end of 2025.
Chivo Wallet Sale and Regulation: The agreement includes advanced negotiations for the sale of the government e-wallet, Chivo, and emphasizes the need for enhanced transparency and reduced public sector involvement in Bitcoin transactions.
Shift in Bitcoin Policy: El Salvador is shifting its Bitcoin policy, agreeing to halt mandatory Bitcoin acceptance by merchants and to limit government purchases of Bitcoin, while still maintaining its legal tender status.
Future Compliance and Fiscal Goals: El Salvador has until the end of 2025 to meet compliance requirements related to Bitcoin, with a focus on fiscal consolidation and a budget aimed at reducing deficits by 2026.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) 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 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 | 41920.245 | 50960.123 | 61344.245 | 70384.123 | 80768.245 | 89808.123 | 100192.245 |
| Fibonacci | 50960.123 | 58380.091 | 62964.155 | 70384.123 | 77804.091 | 82388.155 | 89808.123 |
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