THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount could be in for addition annular of airy activity at the end of this ages and quarter.
Technical Indicators Signals
On the circadian time frame, it can be apparent that bitcoin amount is still in the average of a pullback from its contempo rally. The 100 SMA is aloft the 200 SMA so the aisle of atomic attrition is to the upside, which suggests that bitcoin could accept a attempt at testing its antecedent highs aloof beneath the $800 mark or branch abundant added north.
However, a abundant beyond pullback could be possible, as a bearish banderole has formed. A candle closing beneath the $600 mark could be abundant to affirm that sellers are regaining control, although bitcoin amount could still draw abutment from the circadian ascent trend band which curve up with the 100 SMA activating articulation point.
RSI is still pointing down, which agency that bearish burden is present. Similarly academic is branch south so bitcoin amount ability chase suit. If so, amount could arch until the breadth of absorption at $500-550, which would be the band in the beach for any uptrend correction.
Market Events
Traders arise to be befitting their hopes up for a absolute EU-UK accord in the post-Brexit world, as accident appetence has alternate to banking markets. Investors are putting funds aback in in equities and currencies, arch to assets beyond the board.
However, profit-taking action by both retail and institutional investors usually about the end of the ages and division could accompany added animation to the mix. Traders ability be agog to abridged their assets off the contempo bazaar contest for now and alpha beginning for the additional bisected of the year, which has several added top-tier contest lined up.
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