Pi Network Updates and Bitcoin Predictions
- Pi Network Upgrades: The Pi Network core team has rolled out several significant updates, including protocol versions 19.6, 19.9, and 20.2, with the latter preparing for future smart contract features; however, community dissatisfaction persists due to perceived slow progress.
- KYC Reward Distribution: The team announced the completion of the first distribution of KYC validator rewards, involving over 526 million validation tasks completed by more than 1 million validators, yet many users reported not receiving rewards, exacerbating community frustration.
- Bitcoin Price Fluctuations: Bitcoin rebounded following a temporary agreement between the US and Iran, rising from $70,000 at the start of the week to around $71,700, although analysts warn of potential further declines, predicting a drop to as low as $30,000.
- Ethereum's Potential Surge: Ethereum has been trading around $2,200, with analysts suggesting that holding above $1,800 could lead to a surge up to $4,900, creating significant market anticipation for its future price movements.
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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 6 technical signals, shows that 3 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 | 59042.703 | 62662.351 | 66550.703 | 70170.351 | 74058.703 | 77678.351 | 81566.703 |
| Fibonacci | 62662.351 | 65530.407 | 67302.295 | 70170.351 | 73038.407 | 74810.295 | 77678.351 |
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