THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount gave in to overbought altitude and is in the average of a ample alteration to an breadth of interest.
Technical Indicators Signals
On the circadian time frame, the 100 SMA is aloft the longer-term 200 SMA so the aisle of atomic attrition is to the upside. However, the gap amid these affective averages is absorption so bullish burden ability be weakening.
Stochastic is axis bottomward from the overbought zone, which agency that buyers are demography a breach and acceptance sellers to booty over from here. RSI is additionally branch south so bitcoin amount ability chase suit. A beyond alteration could aftermost until the 50-61.8% Fib levels, which are abutting to addition breadth of absorption at $600.
A breach beneath these Fibs could activation a bead all the way bottomward to the $450 area, accent in the lower dejected box below. This is additionally abreast the affective averages, which ability authority as activating support.
Market Events
The alarm is active afterpiece to the EU referendum, which agency traders ability be booking profits off their contempo continued bitcoin positions. After all, a vote to break in the EU could lift the ambiguity off the banking markets, arch traders aback to acceptable assets such as stocks and abroad from basic currencies.
Still, a vote to avenue the EU could beggarly added assets for bitcoin price, as this could accept cogent repercussions on the all-around economy. Central banks accept bidding their ambition to footfall in if banking markets become too turbulent, black investors from putting money in authorization currencies for now.
Apart from the EU referendum, addition agency that could activation BTCUSD moves today is Fed Chairperson Yellen’s accent so accumulate an eye out for her remarks.
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