U.S. Senate Advances Warsh's Nomination as Fed Chair
- Nomination Progress: The U.S. Senate Banking Committee advanced Kevin Warsh's nomination for Fed Chair with a 13-11 party-line vote, marking a significant step towards confirmation before Jerome Powell's term ends.
- Commitment to Change: Warsh has pledged a 'regime change' at the Fed, indicating potential shifts in communication strategy and balance sheet policy, although his nomination has sparked political divisions, particularly concerns from Democrats about undermining central bank independence.
- Market Reaction Expectations: Financial markets are cautiously bracing for Warsh's nomination, with no immediate policy changes expected; however, internal divisions within the Fed may complicate his approach to interest rate policy, influencing future monetary policy direction.
- Crypto Market Implications: Warsh's expected appointment is seen as a macro turning point, not specific to crypto policy, but market participants believe that changes in Fed leadership will impact global liquidity cycles, affecting the performance of risk assets like Bitcoin.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 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 | 68340.209 | 71032.26 | 74101.559 | 76793.61 | 79862.909 | 82554.96 | 85624.259 |
| Fibonacci | 71032.26 | 73233.095 | 74592.774 | 76793.61 | 78994.445 | 80354.124 | 82554.96 |
About BTC
About the author
