THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount could accumulate up its arrangement of weekend breakouts unless the FOMC account after-effects to a able billow in dollar demand.
Technical Indicators Signals
The 100 SMA is aloft the 200 SMA so the aisle of atomic attrition is to the upside, and the gap amid the two affective averages is addition so bullish drive is strengthening.
However, academic and RSI are both affective south from the overbought zones, advertence that profit-taking is happening. For now, the near-term abutment about $655 is befitting losses in check, and a breach beneath this akin could activation a larger correction.
As mentioned earlier, the breakouts occurred on May 26 (Thurs), June 3 (Fri), and June 11 (Sat) so there’s a acceptable adventitious that addition upside move could be apparent about the weekend assimilate Monday, abnormally with the EU election appointed a little over a anniversary from today.
Market Events
Three above factors are active investors appear bitcoin and added another currencies these days. One of these is the upcoming EU referendum, which is arch traders to move funds abroad from European equities and authorization currencies assimilate basic currencies which aren’t afflicted by governments or axial coffer policy.
Another agency propping up bitcoin amount is the anemic abstracts from China, which is additionally auspicious investors in the arena to dump their Chinese assets and bill in favor of the cryptocurrency. Lastly, the above axial coffer decisions appointed this anniversary are additionally black traders from risking their annual on positions on authorization currencies which could be in for abrupt abruptness moves during the action announcements.
This abnormality is accepted to backpack on until abutting anniversary back the EU election will booty place. Depending on the aftereffect of this event, bitcoin amount ability either resume its ascend or accomplish a aciculate retreat on profit-taking.
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