The Day Ahead
It is a quiet Sunday session. With no US economic indicators to consider, investors should continue to monitor the crypto news wires for events that can move the dial.
ETF-related news will garner interest, with regulated crypto products likely to draw new investors into the digital asset space.
However, investors should monitor the crypto news wires for SEC v Ripple chatter. Coinbase (COIN) and Binance-related news will need continued monitoring.
Bitcoin (BTC) Price Action
This morning, BTC was down 0.17% to $30,583. A mixed start to the day saw BTC rise to an early high of $30,701 before falling to a low of $30,500.
BTC Technical Indicators
Looking at the EMAs and the 4-hourly candlestick chart (below), the EMAs sent bullish signals. BTC sat above the 50-day EMA ($30,243). The 50-day EMA pulled further away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA, sending bullish signals.
A hold above S1 ($30,386) and the 50-day EMA ($30,243) would support a move through R1 ($30,810) to give the bulls a run at R2 ($30,984) and $31,000. However, a fall through S1 ($30,386) and the 50-day EMA ($30,243) would bring S2 ($30,136) into view. A fall through the 50-day EMA would send a bearish signal.
Resistance & Support Levels
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