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BITCOIN BTC RALLIED BY 5.63% TO RETURN TO $30,000 DESPITE THE US EQUITY MARKET

BITCOIN BTC RALLIED BY 5.63% TO RETURN TO $30,000 DESPITE THE US EQUITY MARKET

This morning, the Fear & Greed Index holds firmly at 13/100. While leaving 8/100 on Tuesday, the Index remained in the "Extreme Fear" area, reflecting the bearish trend across the crypto market.


Investors ignored the Index on Thursday. The bitcoin meeting came despite the fact that the index is sitting deep in the "Extreme Fear" area, with a return of $ 30,000 with a silent impact on the Index this morning. Bitcoin and the broader market have also ignored the movement in all US stock markets.


The NASDAQ returned the benefits from the session to complete the day down by 0.26%.


Bitcoin (BTC) Price action

At the time of writing, BTC is down 0.48% to $ 30,138.



Technical Indicators

BTC will need to avoid a $ 29,812 pivot to direct the First Level of Great Resistance to $ 30,970.


BTC will need a comprehensive crypto market to support exits at $ 30,500 levels.


The extended meeting will test the Second Level of Resistance at $ 31,666 and resistance at $ 32,000. Third Major Resistance Level sits at $ 33,517.


Falling in a pivot will test the First Level of Greater Support at $ 29,122. Apart from other extended sales, BTC should avoid levels below $ 28,000. Second Level of Great Support remains at $ 27,964.


If you look at the EMAs and the 4 hour candlestick chart (below), it is a bearish signal. BTC sits below the 50-day EMA, currently at $ 30,365. This morning, 50 days is below the 100-day EMA. 100-day EMA reversed from 200-day EMA; BTC negative.


Passing on the 50-day EMA will support a run of $ 32,500.

Source: yahoo




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