THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount ability be able to analysis the 4-hour approach basal if the concise abutment break down.
Technical Indicators Signals
Bitcoin amount is currently blockage at the 100 SMA, which ability authority as a activating abutment level. Speaking of affective averages, the 100 SMA is still aloft the longer-term 200 SMA so the aisle of atomic attrition is to the upside and the uptrend could resume at some point.
Meanwhile, the 200 SMA curve up with the basal of the 4-hour approach abutment and could additionally authority as the band in the beach for any rallies. A breach beneath this breadth could set off a downtrend.
RSI is treading sideways, almost accouterment any able directional clues. Stochastic is on the way down, advertence that sellers are in ascendancy of amount activity for now and that added losses are possible.
Market Events
Risk abhorrence came aback in the banking markets yesterday, spurred by a aggregate of action babble and talks of beyond abatement efforts from the ECB. Japanese admiral warned that they’re ecology yen FX levels carefully and that the acknowledgment ability accept abrogating repercussions on the economy. The ECB account appear that policymakers advised beyond amount cuts in their March affair and Governor Draghi common that they’re accessible to do whatever it takes to activate growth.
Fed Chairperson Yellen reassured that asset prices are not overvalued in the US and that there is no bread-and-butter balloon that’s about to burst, giving the dollar added abutment adjoin its rivals, including bitcoin price.
Intraday abutment akin – $415
Intraday attrition akin – $425
Charts from Bitstamp, address of TradingView
