fedorenkoalexei

BTCUSD still lacks direction

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin drifted lower Wednesday, along with other cryptocurrencies. BTCUSD however managed to keep above $7,400 and has resumed the recovery attempts today, with $7,800 remains the key hurdle for bulls in the short-term.

Some negative impact on digital currencies came from SEC chief statement saying that the agency won’t ease securities rule for cryptocurrencies. Meanwhile, the research firm Trefis has lowered its year-end price target for bitcoin by about 17%, to $12,500 from the earlier estimate of $15,000, citing the lack of activity and inability to recover losses early in 2018.

Overall, the No.1 digital currency still lacks direction and continues its consolidation below $7,800 for the last two weeks. There are no any catalysts in the market that could change the picture in either direction. Technically, the coin struggles to overcome the major resistance but manages to keep close to it, which suggests the bulls don’t want to give up and are ready to take any opportunity to push the price higher. The question is whether such an opportunity emerges any time soon.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out