Bitcoin's value has taken a hit following the release of US inflation data. The cryptocurrency's technical sentiment analysis suggests that it is currently in a neutral state, with mixed signals from various indicators.
The Relative Strength Index (RSI) for Bitcoin stands at a neutral condition, while the Moving Averages are below their key levels. The price is also trading below its 60-day and 200-day moving averages, indicating potential support and resistance levels.
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 $-