THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount is still affairs aback from its contempo able rallies, affective afterpiece to the ascent trend band on the circadian chart.
Technical Indicators Signals
The 100 SMA is still aloft the 200 SMA for now, acknowledging that the uptrend is acceptable to backpack on. However, RSI and academic are both on the move bottomward so bitcoin amount could accumulate branch south as bears break in control.
A beyond selloff could aftermost until the ascent trend band abutting the lows on the circadian time frame. This curve up with the 100 SMA, which ability authority as a activating abutment level. It additionally coincides with a above attrition akin that could now authority as abutment about $450-500.
For now, profit-taking appears to be in comedy while accident appetence has apparent a acknowledgment in added banking markets. Traders ability be booking their assets on their contempo risk-off positions now that the EU election is set to start.
Market Events
The much-anticipated EU election is set to alpha in a few hours and the contempo amount activity seems to advance that traders ability break out of the markets due to aberrant volatility. The official after-effects won’t be out until the Asian affair on Friday but clandestine avenue acclamation could accord an abstraction of how the vote ability about-face out.
Bitcoin amount could resume its ascend if the UK votes to avenue the EU back this would accompany a lot of banking and bread-and-butter ambiguity alike for the all-around economy. This could already afresh abash traders from putting money in equities and currencies, giving acceleration to the “uncertainty trade” of activity continued bitcoin and added basic currencies.
On the added hand, a vote to breach in the EU could advance added calm and advance traders aback to acceptable markets already more, possibly alike arch to a downside breach of the circadian trend line.
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