Today's cryptocurrencies are on average in the red zone. Bitcoin is down 6.85%, Ethereum is down 8.32%, and Solana is down 15.62%.
Today's Bitcoin price is still in the $61k range, a break of this support level could possibly bring Bitcoin down to the $50k level. Market sentiment shows bearish.
The crypto dump may continue. Or maybe this is because OKX as one big exchange in the world officially announced discontinuing support for the Tether (USDT) trading pair in the European Economic Area (EEA) ahead of the implementation of the European Union's comprehensive regulatory framework for cryptocurrencies
Bitcoin prices have fallen 13.70% during the week after the big Bitcoin dump occurred after Bitcoin recorded several new ATHs in March 2024. Today's bitcoin price performance moved in the range of Low $61,982.17 and High $68,106.93 in 24 hours.
The fear and greed index shows a value of 83, which means the market has extreme greed even though there is a decrease in points.
The Fed meeting is also an important issue on Wednesday this week, where the FED rate decision may affect the market, including cryptocurrency.
Today's summary of indicators by Investing resulted in a strong sell signal from the details of several indicators including RSI, ADX, William %R, MACD Stochastic, and so on. Meanwhile, moving averages in the 5.10, 20, 50, 100, and 200 time periods also provide strong sell signals.
On Ticktrader FXOpen, the price is now forming a long body bearish candlestick with almost no shadow on a top and bottom candle. This reflects a strong decline in the BTCUSD pair
On the daily timeframe, Bitcoin price managed to cross the middle band line from the upper side and brought the price near the lower band line. The $60k price area may be a support zone near the lower band.
MA 50 is still drawing an ascending channel below the lower band line reflecting bullish sentiment in the long term, this could be dynamic support in an uptrend market. The RSI indicator now shows a value of 46, which means the price is moving below the downtrend level.
Today's Bitcoin price is still in the $61k range, a break of this support level could possibly bring Bitcoin down to the $50k level. Market sentiment shows bearish.
The crypto dump may continue. Or maybe this is because OKX as one big exchange in the world officially announced discontinuing support for the Tether (USDT) trading pair in the European Economic Area (EEA) ahead of the implementation of the European Union's comprehensive regulatory framework for cryptocurrencies
Bitcoin prices have fallen 13.70% during the week after the big Bitcoin dump occurred after Bitcoin recorded several new ATHs in March 2024. Today's bitcoin price performance moved in the range of Low $61,982.17 and High $68,106.93 in 24 hours.
The fear and greed index shows a value of 83, which means the market has extreme greed even though there is a decrease in points.
The Fed meeting is also an important issue on Wednesday this week, where the FED rate decision may affect the market, including cryptocurrency.
Today's summary of indicators by Investing resulted in a strong sell signal from the details of several indicators including RSI, ADX, William %R, MACD Stochastic, and so on. Meanwhile, moving averages in the 5.10, 20, 50, 100, and 200 time periods also provide strong sell signals.
On Ticktrader FXOpen, the price is now forming a long body bearish candlestick with almost no shadow on a top and bottom candle. This reflects a strong decline in the BTCUSD pair
On the daily timeframe, Bitcoin price managed to cross the middle band line from the upper side and brought the price near the lower band line. The $60k price area may be a support zone near the lower band.
MA 50 is still drawing an ascending channel below the lower band line reflecting bullish sentiment in the long term, this could be dynamic support in an uptrend market. The RSI indicator now shows a value of 46, which means the price is moving below the downtrend level.
