THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount is affairs up from its accelerate but ability be accessible to trend lower aloft testing the resistance.
Technical Indicators Signals
The 100 SMA is still aloft the longer-term 200 SMA so the aisle of atomic attrition could still be to the upside. In that case, a breach accomplished the trend band attrition ability be a possibility.
At the aforementioned time, academic is still branch north, which agency that bullish drive is in play, possibly abundant to backpack bitcoin amount up to to the trend line. Sustained bullish burden could activation an upside breach and a changeabout from the downtrend, but it would booty a able bazaar agitator to activate that.
If the trend band holds as resistance, bitcoin amount could resume its bead to the abutting abiding abutment at the lows about $500 or conceivably alike actualize new lows.
Market Events
The FOMC account angry out to be bearish for the US dollar back the policymakers didn’t complete as advancing as abounding expected. Following FOMC affiliate Bullard’s alert animadversion in his testimony, the account showed that policymakers are in no blitz to backpack absorption ante for the butt of the year.
Most associates agreed that it would be advisable to accrue added abstracts aboriginal afore authoritative any action adjustments. With that, traders lightened their continued dollar positions beyond the board, arch to a agnate addition in bitcoin amount in the process.
However, the US dollar charcoal the adopted safe-haven in the markets and any signs of a arrest could still draw traders aback to the dollar and abroad from the riskier and higher-yielding bitcoin.
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