Bitcoin’s Dragonfly Doji & XRP MACD Bearish Signals
Bitcoin’s Dragonfly Doji signals resistance
Bitcoin has formed a dragonfly doji on its recent candlestick chart, a pattern which often occurs when sellers push prices down significantly only for buyers to bring them back up before the close. This pattern suggests resistance at lower levels but also indicates that bulls are attempting to regain control. The appearance of this doji comes at a time when the strength of the U.S. dollar is also weighing on Bitcoin’s recent gains, adding pressure from macroeconomic fundamentals.
Source: tradingview.com
XRP’s MACD turning bearish
While Bitcoin shows this mixed signal, XRP is seeing a bearish trend in its MACD (Moving Average Convergence Divergence) indicator. A negative crossover or weakening MACD histogram often signals declining momentum, and many traders are interpreting this as a cue that XRP may struggle to sustain upward movement in the near term. This technical setup could mean that XRP is more vulnerable in a market pullback or broader correction.
Upcoming Fed speak and PCE inflation as catalysts
Eyes are on upcoming speeches from Federal Reserve officials and the forthcoming PCE (Personal Consumption Expenditures) inflation report. These events are expected to be key drivers of volatility. If inflation data comes in hotter than expected or the Fed signals a less dovish stance, crypto assets like Bitcoin and XRP could see sharper downside. Conversely, soft inflation or dovish hints might provide relief for bulls.
Investor caution amid USD strength
Strong U.S. dollar strength is adding headwinds to the crypto uptrend. When the dollar gains, crypto tends to face resistance because it's often priced in USD. This dynamic alongside technical bearish signals is leading many investors to reduce leverage, tighten stops, or take profits. This environment suggests limited room for aggressive upside moves until clearer signals emerge.
Conclusion: Watch key support levels
Given these mixed signals—dragonfly doji on Bitcoin, bearish MACD on XRP, macro risks ahead—traders are advised to watch key support levels closely. For Bitcoin this could mean monitoring zones where prior lows were solid, and for XRP the MACD trendline and recent support bands may be critical. The next few Fed statements and inflation numbers will likely determine whether markets lean toward a deeper correction or stabilize for another leg up.
Disclaimer: This article is intended solely to provide information and market insights at the time of publication. We make no promises or guarantees regarding performance, returns, or the absolute accuracy of the data. All investment decisions are the sole responsibility of the reader.