The BTCUSD pair pulled back slightly as bond yields and the US dollar index (DXY) rose while American stocks pulled back.
Set a buy-stop at 23,500 and a take-profit at 25,000.The BTC/USD pair pulled back slightly as bond yields and the US dollar index rose while American stocks pulled back. Bitcoin price retreated to a low of $22,843, which was lower than the weekend high of near $24,000.Like other financial assets, Bitcoin will react to the upcoming interest rate decision by the Federal Reserve. Economists expect that the Fed will continue its hiking cycle since inflation remains at an elevated level.
On the weekly chart, we see that the BTC/USD price has made a steady bullish comeback in the past few days. As it rose, the pair moved slightly above the important resistance point at $19,820 . Therefore, while the overall bearish trend is persisting, the pair will likely continue rising and retest the resistance at 25,145. A further upside above this price will see it rise to 28,895.The daily chart is a bit different from the weekly chart. For one, the pair has moved to the 23.6% Fibonacci Retracement level and is approaching the key resistance at 25,182 . The 25-day and 50-day moving averages have made a bullish crossover pattern while the MACD remains above the neutral point.
Also, it has formed an ascending wedge, which is also a dangerous pattern. Therefore, for the immediate near term, the pair will likely have a bearish breakout since the wedge pattern is nearing its confluence level. As such, it could pull back to the psychological level of 22,000.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Pairs in Focus This Week -USD/JPY, BTC/USD, GBP/USD, AUD/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of January 29th, 2022 here.
Leer más »
BTC/USD Forex Signal: Bullish Above $23,629Bitcoin reaches new 6-month high price over the weekend.
Leer más »
Price analysis 1/30: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOTBitcoin and the S&P 500 are witnessing profit-booking as short-term traders lighten up positions before the Fed’s FOMC on Feb. 1, but that doesn’t mean that the wider bullish crypto trend has lost momentum.
Leer más »
WSJ News Exclusive | China’s Top Nuclear-Weapons Lab Used American Computer Chips Decades After BanThe state-owned institute has continued buying chips made by Intel and Nvidia despite its inclusion on a U.S. export blacklist in 1997.
Leer más »
How a harrowing fire became a silver lining for a museum of Chinese American lifeThree years ago, some 85,000 objects in MOCA's archives were at risk of being lost after the building where they were being housed caught fire. But the crisis ended up being a boon of sorts.
Leer más »
Ron DeSantis Battles the African American A.P. Course—and HistoryLast Wednesday, three Florida high-school students said that they were prepared to sue the DeSantis administration if the ban on an Advanced Placement course in African American studies is not lifted.
Leer más »