Bitcoin stuck between 81 481 $ and 83 242 $ : what the two moving averages indicate
Bitcoin is trading around 81,700 to 82,000 $ this Tuesday morning, with little change since Monday: this is its third consecutive tight session (CryptoTicker). It is between its 50-day moving average at $81,481 and its 20-day average at $83,242.
What happened
→ On Monday, Bitcoin rose close to $83,000, then was turned back as U.S. bond yields started rising again, despite the Nasdaq gaining more than 1% (KuCoin)
→ The $82,000 to $82,200 zone it had lost became the first resistance level
→ Ethereum is around $2,408, and the fear and greed index is at 55, down from 59 the previous day
A mixed signal: IBIT recorded $665.2 M$ in net inflows on Monday, after a week of outflows. But crypto.news notes that institutional demand remains weak and last week's rebound has stalled.
My analysis: the market is hesitating between two nearby levels. A move back above 82,200 $ would ease the pressure; a close below 81,300 $ to 81,500 $ would intensify it. These are technical levels, not forecasts.
This is not investment advice.
Which side breaks first: 83 242 $ to the upside or 81 481 $ to the downside? #USBitcoinETFsRecord$527MInflows
Bitcoin is trading around 81,700 to 82,000 $ this Tuesday morning, with little change since Monday: this is its third consecutive tight session (CryptoTicker). It is between its 50-day moving average at $81,481 and its 20-day average at $83,242.
What happened
→ On Monday, Bitcoin rose close to $83,000, then was turned back as U.S. bond yields started rising again, despite the Nasdaq gaining more than 1% (KuCoin)
→ The $82,000 to $82,200 zone it had lost became the first resistance level
→ Ethereum is around $2,408, and the fear and greed index is at 55, down from 59 the previous day
A mixed signal: IBIT recorded $665.2 M$ in net inflows on Monday, after a week of outflows. But crypto.news notes that institutional demand remains weak and last week's rebound has stalled.
My analysis: the market is hesitating between two nearby levels. A move back above 82,200 $ would ease the pressure; a close below 81,300 $ to 81,500 $ would intensify it. These are technical levels, not forecasts.
This is not investment advice.
Which side breaks first: 83 242 $ to the upside or 81 481 $ to the downside? #USBitcoinETFsRecord$527MInflows