Moving in the red zone Bitcoin and friends still has the potential to be bullish.
Per 24 hours Bitcoin was down 0.15%, Ethereum was down 0.21%, and Solana was down 0.63%.
Today's Fear and Greed index shows a value of 83, meaning market extreme greed.
Blackrock CEO Larry Fink warns about US debt which has the potential to destroy the economy. US debt is currently at an all-time high.
This condition might benefit the growth of digital assets such as Bitcoin which has a maximum supply. The cryptocurrency market may rise in such a scenario as investors move their money into the virtual currency industry.
Bitcoin/USD technical analysis today
Ahead of the Bitcoin halving, the price is now in the $70k range, slightly down from yesterday's high with a performance range of Low $69,335.61 and High $71,535.74.
Investing's summary of technical indicators today gives a sell signal, while the moving average summary gives a buy signal.
On Ticktrader Bitcoin/USD price now the price moves between the upper and middle band lines. The price formed a high of $71537, a low of $69363, an open of $69865, and a close of 70203. The chart formed a bullish candle with a rather long shadow at the top of the candle.
Bollinger bands on the daily timeframe form a flat channel with slightly narrowed bands indicating reduced volatility. The upper band line could be dynamic resistance at roughly $74,000 and dynamic lower band support at roughly $62,000.
MA 50 below the middle band line still forms an upward channel indicating an uptrend market.
The RSI indicator shows level 57, which means the price is moving above the uptrend level.
On the H1 timeframe, Bitcoin price sideways moves within the Bollinger band squeeze. The Bitcoin price range is still moving in the $69k - $71k range in this timeframe. An upside or downside breakout of the Bollinger band line may determine future movement.
The 50 MA below the lower band line forms a slight rising channel indicating bullish sentiment.
The RSI indicator shows level 51, meaning the price moves 1 point above the upper band line.
Support and resistance
S3: 26245.9
S2: 39763.9
S1: 50866.7
R1: 73727
R2: 73727
R3: 73727