Introduction
“Bitcoin’s brief ascent to the $50,000 milestone faces challenges as US CPI inflation data points to persistent inflationary pressure, triggering potential price drops. Ethereum eyes a 10% gain, but caution emerges with signs of falling momentum. Ripple reveals crypto custody plans amidst XRP’s sideways trading, while Chainlink hits a one-year high above $20 fueled by increased DeFi adoption and network activity.”
Markets In Focus Today — BITCOIN
Bitcoin Price $50,000 Milestone Short-Lived As US CPI Inflation Signals Persistent Inflationary Pressure.
Bitcoin price shocked the market, hitting the $50,000 milestone after two years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher high above the $50,368 range would invalidate the bearish thesis, bringing $60,000 into focus. US CPI inflation in January printed at 3.1% every year, above the 2.9% market expectation. Bitcoin’s (BTC) price has repelled the $50,000 milestone. The retraction follows the US CPI inflation data, which signaled persistent inflationary pressures.
Technical Overview With Chart :
Moving Averages :
Exponential :
- MA 10 : 47621.5930 | Positive Crossover | Bullish
- MA 20 : 45776.7299 | Positive Crossover | Bullish
- MA 50 : 43799.5841 | Positive Crossover | Bullish
Simple :
- MA 10 : 46911.3480 | Positive Crossover | Bullish
- MA 20 : 44804.1700 | Positive Crossover | Bullish
- MA 50 : 43733.3678 | Positive Crossover | Bullish
RSI (Relative Strength Index): 80.4816 | Buy Zone | Bullish
Stochastic Oscillator : 94.2667 | Buy Zone | Positive
Resistance And Support Levels :
- R1 : 47387.2295 R2 : 49860.6039
- S1 : 39380.2039 S2 : 36906.8295
Overall Sentiment: Bullish Market Direction: Buy
Trade Suggestion: Limit Buy: 50011.09 | Take Profit: 51626.22 | Stop Loss: 49008.60
ETHEREUM
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