Recently, the $60,000 resistance level has been a key hurdle for buyers despite oversold readings on the charts. So far, support levels remain intact, which could establish a tight trading range between $55,000-$60,000 into the Asian trading day. BTC was trading around $57,800 at press time. Source link … [Read more...] about Bitcoin Declined Below $58K; Support Between $53K-$55K
58K
Bitcoin Returns Above $58K as Momentum Improves
Price momentum is starting to recover on the daily chart, which suggests buyers could remain active into the Asia trading day. Additionally, the relative strength index (RSI) on the daily chart is near oversold levels similar to what occurred in late September, which preceded a price rally. Source link … [Read more...] about Bitcoin Returns Above $58K as Momentum Improves
Bitcoin Tops $58K With Focus On Omicron and Fed’s Powell Speech
“Bitcoin is largely being grouped with other risk assets at the moment,” Matthew Dibb, COO and co-founder of Stack Funds, said. “After Friday’s collapse in equities, we have seen some buying in major coins, but it’s too early to say whether it will continue.” Source link … [Read more...] about Bitcoin Tops $58K With Focus On Omicron and Fed’s Powell Speech
Bitcoin Reverts to $58k as Renewed Covid Concerns Jolt Traditional Markets
While bitcoin is trading 2% lower on the day near $57,800 at press time, the S&P 500 futures are nursing a 1.3% loss. The MSCI Asia-Pacific index has slipped 1.8%, and the commodities complex is bleeding, with oil down over 2% on both sides of the Atlantic. Meanwhile, anti-risk assets like the Japanese yen and U.S. Treasuries are gaining ground. Source link … [Read more...] about Bitcoin Reverts to $58k as Renewed Covid Concerns Jolt Traditional Markets
First Mover Asia: Bitcoin Edges Toward $58K; Altcoins Recover From 7-Day Lows
Good morning. Here’s what’s happening this morning:Market moves: Bitcoin edged toward $58,000 as altcoins and other layer 1 tokens recovered from seven-day lows.Technician’s take: Momentum is improving as oversold readings appear on the chart.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): $57,550 … [Read more...] about First Mover Asia: Bitcoin Edges Toward $58K; Altcoins Recover From 7-Day Lows