Bitcoin has climbed 3% in the last 24 hours and traded around $6,700, but the main increase occurred yesterday morning, after which prices stabilized near last week’s highs. Altcoins are showing similar dynamics. However, the first cryptocurrency failed to break out from $6K area, and was unable to replicate the rally of global markets.
Over the last week, the Bitcoin Dominance Index rose by almost 2% to 65.7%. The Crypto Fear & Greed Index has increased by one point in the previous 24 hours, remaining in the “extreme fear” area. According to its creators, this indicates a right moment for purchase. The RSI index is in the neutral zone, after oversold, also giving a signal to buy. As unpleasant as it may be for crypto enthusiasts to realize this fact, but the situation around the epidemic, stock market, and central bank incentives will have a powerful impact on prospects for Bitcoin and the entire crypto market.
The FxPro Analyst Team
FTSE 100: ⬆️ Buy - FTSE 100 reversed from key support level 8425.00 - Likely…
Alibaba: ⬆️ Buy - Alibaba broke the key resistance level 145.00 - Likely to rise…
EURNZD: ⬇️ Sell - EURNZD reversed from long-term resistance level 1.9160 - Likely to fall…
AUDUSD: ⬆️ Buy - AUDUSD broke resistance level 0.6350 - Likely to rise to resistance…
Weak US retail sales are adding to concerns of a potential recession, putting pressure on…
The Dow Jones rebound depends on the Federal Reserve's monetary policy and incoming data. It…
This website uses cookies