THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount is gearing up to analysis the approach abutment abreast $417-420 and ability be due for addition bounce.
Technical Indicators Settings
The 100 SMA is cautiously aloft the longer-term 200 SMA so the aisle of atomic attrition is to the upside. This confirms that a animation off abutment is acceptable to booty place, as this breadth additionally coincides with the 200 SMA activating articulation point.
However, academic is on the move down, advertence that bitcoin amount ability chase suit. RSI is affective alongside so alliance could be in play. Still, a able acknowledgment in affairs burden could advance to addition analysis of the attrition about $425 or alike a breach higher.
Market Events
The FOMC account gave a bit of abutment to the dollar, as the archetype adumbrated that two policymakers voted to bind budgetary action in March. However, they were outvoted by added admiral who anticipation it would be advisable to delay for added data.
Fed policymakers accustomed the animation in the US abridgement admitting the advancing all-around advance slowdown, highlighting the backbone in application and in the apartment sector. Still, some bidding apropos that the ascent aggrandizement trends ability not be sustained.
Risk-taking has absolutely been in comedy bygone but bitcoin amount bootless to booty advantage of this. Crude oil prices accept rallied again, accurate by letters of falling US stockpiles and added allowance of cooperation for the accessible OPEC meeting.
Intraday abutment akin – $417
Intraday attrition akin – $425
Charts from Bitstamp, address of TradingView
