In another sign of recovery, Bitcoin is trying to break away from a key short-term resistance trend line that has been in place since the cryptocurrency topped out in January this year at above $109K.
BTC/USD has already reclaimed a few short-term levels such as
83K and moved above the 21-day exponential moving average to provide the first objective bullish signal.
More work is still needed before we get the all-clear, with the 200-day average and more importantly a key resistance range around $90K (specifically in the $88.8K to $91.2K range) to contend with.
Still, we have a few tentative signs of a possible reversal, which is evidenced across risk assets including major stock indices.
By Fawad Razaqzada, market analyst with FOREX.com
BTC/USD has already reclaimed a few short-term levels such as
83K and moved above the 21-day exponential moving average to provide the first objective bullish signal. More work is still needed before we get the all-clear, with the 200-day average and more importantly a key resistance range around $90K (specifically in the $88.8K to $91.2K range) to contend with.
Still, we have a few tentative signs of a possible reversal, which is evidenced across risk assets including major stock indices.
By Fawad Razaqzada, market analyst with FOREX.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.