Bitcoin sold off hard during Q4, but then during the first frame of 2022 it underwent a period of relatively directionless trading. Get your market update from PaulRobinsonFX here:
sold off hard during Q4, but then during the first frame of 2022 it underwent a period of relatively directionless trading. Contracting price action over the last three months could continue to make things even choppier in the near-term, but given the nature of volatility and the fact that this is BTC, volatility is likely to ramp up again as we head towards the middle of the year.
Which direction it goes remains undecided, but the higher low in February relative to the yearly low in January suggests we may see a top-side breakout. If this is the case, it will be intriguing to see how much buying interest comes in.
Excitement has fallen in recent months, so this could be a critical test of the market from a psychological standpoint. Typically once BTC gets rolling it doesn’t take long to muster a fresh level of market interest. If we were to see that fail to be the case this time around, then it could mean that BTC is headed for an extended period of sideways price action, or worse.Reclaiming the 40-wk moving average on the upside will be the first hurdle to cross, along with the Feb.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Drops Below Ascending Channel to $38,000, Liquidations Spike to $200 MillionBitcoin failed to reverse from the strong support, dropping to $38,000 as market loses $200 million in liquidations
Read more »
How Current Markets Will Impact Traders | DailyFX Exclusive Q2 ForecastMarketForecast DailyFX analysts give their expert predictions and their 2022 Q2 forecasts to help you with your trading strategy and analysis, minimizing r...
Read more »
Launch of Australia's First Bitcoin ETF Gets PostponedCosmos Asset Management's Bitcoin ETF was scheduled to start trading on the Cboe stock trading platform
Read more »
Bitcoin fails to hold $40K with traders still hoping for a BTC price relief bounceBTC price action retreats under $40,000 in a blow to Monday's Bitcoin relief rally.
Read more »
'Something sure feels like it's about to break' — 5 things to know in Bitcoin this weekWhat's on the menu for Bitcoin price action this week? For many, something smells fishy.
Read more »
EUR/USD Price Analysis: Below 1.0707 comes 1.0635EUR/USD keeps correcting lower and challneges the 1.0700 key level at the beginning of the week. The downside momentum in the pair accelerated on Mond
Read more »