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Bitcoin Levels to Watch as Cryptocurrency Down From Highs
6 minutes ago
Bitcoin (BTCUSD) surged above $100,000 early this week but retreated in recent days as investors reassess this year’s interest rate outlook.
The cryptocurrency has lost ground as stronger-than-expected economic data has driven up Treasury yields, putting downward pressure on risk-on assets such as bitcoin amid investor concerns that the Federal Reserve may not cut interest rates again.
Bitcoin was at $94,900 on Friday morning, up from an overnight low of $91,700 but well below its high for the week set on Monday of nearly $103,000.
Since setting an all-time high (ATH) of around $108,000 in mid-December, bitcoin’s price has come under significant selling pressure. More recently, the cryptocurrency’s price formed a bearish engulfing pattern to halt last week’s rally back above the closely watched $100K level.
In addition, the relative strength index (RSI) has dropped below the 50 threshold and the price has fallen decisively under the respected 50-day moving average (MA), signaling weakening buying momentum.
Investors should watch key support levels on Bitcoin’s chart around $92,000, $87,000, and $74,000, while also monitoring important resistance levels near $100,000 and $106,000.
Read the full technical analysis piece here.
–Timothy Smith
Delta Soars as Results Beat Expectations
30 minutes ago
Shares of Delta Air Lines (DAL) rose in premarket trading Friday after the airline reported fourth-quarter fiscal 2024 results that came in ahead of analysts’ estimates.
The carrier posted December-quarter profit of $843 million, or $1.29 per share, on revenue of $15.56 billion. Analysts polled by Visible Alpha expected net income of $1.15 billion, or $1.78 per share, on revenue of $14.89 billion.
On an adjusted basis, earnings per share (EPS) of $1.85 topped analysts’ estimates of $1.76.
Delta projects EPS growth of over 10% year-over-year to greater than $7.35 in fiscal 2025, “excluding the 45-cent impact of the CrowdStrike-caused outage in the September quarter.” For the current quarter, it expects revenue to grow 7% to 9% and EPS of $0.70 to $1.00.
Shares were up 7% in recent premarket trading. They have risen roughly 50% over the past year, more than double the percentage gain of American Airlines (AAL) stock but trailing the roughly 135% surge in United Airlines (UAL) shares.
–Aaron McDade
