US Supreme Court Ruling Boosts Crypto Market Recovery
- Market Recovery: Following the US Supreme Court's ruling against Trump's tariffs, the crypto market cautiously rebounded with Bitcoin rising to $68,200 and total market capitalization exceeding $2.3 trillion, indicating market sensitivity to policy changes.
- Top Performers: Cryptocurrencies like Kite, Morpho, LayerZero, and Render saw gains of over 6%, reflecting increased investor interest in emerging projects, which may attract more capital into the market.
- Stock Market Rebound: The Dow Jones and Nasdaq 100 indices rose by over 0.50%, suggesting a recovery in investor confidence regarding economic prospects, although the market still faces uncertainties ahead.
- Potential Risks: Despite the short-term market gains, Trump may utilize alternative methods to impose tariffs, and escalating tensions in Iran could lead to rising oil prices, increasing inflationary pressures that complicate the Federal Reserve's interest rate 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 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 | 59083.794 | 62100.897 | 64948.794 | 67965.897 | 70813.794 | 73830.897 | 76678.794 |
| Fibonacci | 62100.897 | 64341.327 | 65725.467 | 67965.897 | 70206.327 | 71590.467 | 73830.897 |
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