Kevin Warsh Sworn in as Fed Chair Amid Bitcoin Stability
- New Chair Sworn In: Kevin Warsh was sworn in as the Federal Reserve Chair on Friday at a White House ceremony, becoming the first Fed leader to take the oath at the executive mansion since 1987, succeeding Jerome Powell, who will remain on the Fed board until 2028.
- Senate Confirmation Vote: Warsh's appointment was confirmed by the Senate in a narrow 54-45 vote, with the only bipartisan support coming from Democratic Senator John Fetterman, highlighting the political divide surrounding his nomination.
- Market Stability: Bitcoin traded near $77,400 during Warsh's swearing-in, indicating that markets had largely priced in the leadership transition, with traders now focused on Warsh's first FOMC meeting scheduled for June 17.
- Uncertain Policy Outlook: Warsh pledged to lead a “reform-oriented Federal Reserve,” but his view that the Fed's balance sheet is too large may tighten liquidity, impacting risk assets, especially as inflation remains persistently above the 2% target.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 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 crypto.
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 | 66421.881 | 70355.74 | 73796.731 | 77730.59 | 81171.581 | 85105.44 | 88546.431 |
| Fibonacci | 70355.74 | 73172.933 | 74913.398 | 77730.59 | 80547.783 | 82288.248 | 85105.44 |
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