THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount is in alteration approach afterwards hitting new highs at the approach attrition and $5000 area.
Technical Indicators Signals
The 100 SMA is aloft the longer-term 200 SMA so the aisle of atomic attrition is to the upside. The concise affective boilerplate curve up with the 50% Fibonacci retracement level, which appears to be captivation as abutment already.
A beyond alteration could aftermost until the 61.8% Fib at $4157 or until the 200 SMA activating articulation point abutting to $4000. A breach beneath this area, on the added hand, could arresting that bears are regaining ascendancy of bitcoin amount action.
Stochastic is affairs up from the overbought area to appearance a acknowledgment in bullish momentum. RSI seems to accept allowance to arch added south so bitcoin amount ability break in alteration approach for a bit longer. If any of the Fib levels authority as support, amount could hit the beat aerial or the approach attrition at $5200 next.
Market Factors
Geopolitical accident is acrimonious up already added as North Korea launched a beyond missile test, animating fears of an absolute bang eventually or later. South Korea additionally conducted its own missile analysis so there are speculations that a absolute war could follow.
Meanwhile, US admiral accept ahead acclaimed that any blackmail to its allies could be met with massive aggressive acknowledgment and that they accept affluence of options on the table. Data from the US abridgement angry out weaker than accepted on Friday, black hopes of a Fed amount backpack this ages but still befitting December abbreviating expectations in play.
Looking ahead, deepening tensions amid the Koreas and with the US could accumulate all-around stocks in selloff approach and force investors to move funds to another assets like bitcoin.
