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BTCUSD Technical Analysis

On the daily chart below for BTCUSD, we can see that the really strong and quick rally in Bitcoin has stalled at the $30K resistance. The fundamental backdrop was the collapse of the Silicon Valley Bank and the regional banking sector crisis that made the market to expect rate cuts and thus eased financial conditions. Those expectations have not been proved right yet as the economic data rebounded. The market might be wrong on the rate cuts front and if more data starts to come in better than ex... Read More

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Btcusd

Technical

Analysis

Forex

Posted: May 18 2023, 08:43

Author Name: forexlive

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