Recapitulation
- Bitcoin price rebounded on Tuesday in Asia, following a tumble over the last few days, the short term trend is Bearish, while the stabilty below 3.920K most likely will push the price to test 3.106K.
Market Factors
Regulators in Denmark and Malaysia set eyes on crypto trading, and HSBC is actively using blockchain to improve transaction efficiency, according to reports this week.
Vontobel bank, Switzerland’s third largest financial custody provider, has launched a digital custody product for institutional players.
Technical
The Bearish trend is suggested as the price faces solid resistance formed by the EMA50 now at 3.75K, accompanied by witnessing clear overbought signals through Stochastic.
Holding below 3.920K represents the important condition to continue the Bearish move towards 3.106K.
Sentiment
Support : 3106.000 level.
Resistance1 :3920.000 level.
Expected trading for today:
is between 3106.00 and 3920.00.
Expected trend for today :
Bearish.
Market is insane right now a big green candle out of nowhere
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You are writing beautifully about bitcoin.
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