Market Analysis by Investing.com (Günay Caymaz) covering: BTC/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttonprices have retreated from last week's highs, currently trading around $59,400. Despite a lack of negative sentiment in global markets, the crypto has experienced a nearly 10% decline this week.
Markets will closely watch macroeconomic data in the final two trading days of the week. Today, the U.S. will release crucial figures, including In a negative scenario, Bitcoin may accelerate its downward trend. Conversely, if the data supports a soft landing for the U.S. economy, Bitcoin could rebound and test resistance levels.data could further impact volatility. Despite the Fed's focus on the labor market for the remainder of the year, inflation data remains a critical concern. Unexpected deviations could complicate the market outlook.Bitcoin's price continues to exhibit a bearish trend.
Conversely, if Bitcoin holds above the support line at $55,800 and market sentiment improves, the focus could shift to the resistance zone around $62,000. Surpassing this resistance would indicate a break above the descending channel and could pave the way for a move towards the $70,000 region.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin: Dovish Powell Today May Ignite Highly Anticipated BreakoutMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin Must Hold Above $57.3K Critical Support to Avoid a Bigger SelloffMarket Analysis by Investing.com (Günay Caymaz) covering: Bitcoin, XRP, BNB, Solana. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin, Ethereum Struggle as Strong Supports Turn Into Stubborn Resistance ZonesMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin: Support at $63k Becomes Critical After Double-Top Pattern Plays OutMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD, Ethereum. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Gold: Rally Beyond $2,550 Hinges on Fuel From These 2 CatalystsForex Analysis by Investing.com (Günay Caymaz) covering: XAU/USD, Gold Futures. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Read more »
EUR/USD Tests Key Barrier at 1.1174 Ahead of Jackson Hole - Breakout in the Cards?Forex Analysis by Investing.com (Günay Caymaz) covering: EUR/USD, US Dollar Index. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Read more »