⚡ BTC Technicals Flash Hope — Is It Time to Turn Bullish? O
Timur7777
Updated at: 2 hours ago
{"content":"⚡ BTC Technicals Flash Hope — Is It Time to Turn Bullish?
On Thursday, Bitcoin holds steady at $110,800 following a little rise earlier this week.
Before Friday's macroeconomic data, traders are being careful since it might change what they think about the Fed's rate-cut path.
On Wednesday, US-listed spot Bitcoin ETFs witnessed more than $300 million in inflows, making it two days in a row of good news.
After a drop of about 5% the week before, the price of Bitcoin went up a little on Monday. On Tuesday, BTC closed above the 100-day Exponential Moving Average (EMA) at $110,736. The following day, it found support above that level. As of Thursday, it is close to its 100-day EMA, which is approximately $110,800.
If BTC keeps going up, it could be able to break over its daily barrier level of $116,000.
The Relative Strength Index (RSI) on the daily chart is at 44, which is just below its neutral threshold of 50. This means that the negative momentum is receding. The Moving Average Convergence Divergence (MACD) lines are also coming together, and the red histogram bars are becoming smaller, which means that a bullish crossing is probable.
But if BTC goes down, it might go down further more until it hits its daily support level of $105,573.
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