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The daily bitcoin chart is trading in its bullish channel between the upper blue and red bands. The daily RSI is on the bullish side of 50 (green rectangle). If the indicator can maintain above 50, an underlying bullish momentum is likely to be bitcoin supportive.
Bitcoin ran as high as $28,597 yesterday before selling kicked in. The cryptocurrency has a resistance area around the $28,167 area (red shaded horizontal), which is proving tough to overcome. The cryptocurrency is currently trading around $27,450.
Bitcoin soared by 3.8% on Sunday. Most of the gain came within a 15-minute window with BTCUSD jumping from $27,233 to $27,880. The cryptocurrency is now trading near $28,290. There does not seem to be an outright catalyst for the move, with many market participants referring to “Uptober.”
ETH/USD shows resilience to the greenback’s post-Fed strength, despite the initial drop, but the technical outlook is still challenging
Bitcoin is down about 1.8% today due to concerns about risky investments following the Federal Reserve's statement and press conference. In the last 24 hours, the price of Bitcoin has dropped to trade at $26,660. This decline was driven by the Fed's decision to keep interest rates the same but hinted at possible rate increases. As a result, Bitcoin has returned to the familiar range around $26,000, which has been…
Bitcoin’s green 5-day EMA is above its orange 10-day EMA. This puts the EMAs into bullish formation. Moreover, its stochastic has pushed above 80 (green rectangle). The longer it maintains at this level, the higher the probability of further price increases.
A US court ruled against the SEC decision to reject Grayscale’s filing for a Bitcoin ETF on Tuesday, which boosted BTC/USD, but trades with caution today
Bitcoin dropped markedly late in the trading day yesterday and is trading around $26,500. For the current week, the cryptocurrency is down 9.65%. The drop followed an article in The Wall Street Journal that reported that SpaceX wrote down its bitcoin holdings to the value of $373m in 2022 and 2021 and has sold its holdings.
Bitcoin has declined by about 1% over the last two days, to trade around $28,500. This comes after two weeks of muted price action. The market is starting to appreciate that rates may remain “higher for longer” and this is weighing on the cryptocurrency. Bitcoin’s volatility is still low, but the recent price movement is showing signs of life, albeit to the downside. The question is if the downside movement…
Bitcoin is feeling the pressure with other risk assets, following Fitch’s downgrade of the US credit rating.
Major cryptocurrencies got a boost after a US Judge ruled that Ripple’s XPR token is not a security in regards to public sales, in a case brought by the SEC, although the decision was a bit more complicated
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