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April 20, 2023
While Bitcoin in the midst of a 3 day downtrend, Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. Bitcoin trades at $28,950 after gaining $149.81 (0.49%).
United States Philadelphia Fed Manufacturing Index (Apr) is next today at 12:30 UTC.
On the flip side, Crude Oil Inventories in United States fell short of market expectations (-1 million) with a reading of -4.58 million, continuing the decline from the previous figure of 597,000.
Meanwhile, United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.
Bitcoin's notable support and resistance levels: Bitcoin could be slowing down soon as it approaches resistance at $30,053. Of course, crossing it might suggest further gains are ahead.
Bitcoin shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.088, Dogecoin is up 4.08% today to currently trade at around $0.092.
Furthermore, the market is looking at as things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 240,000, following on from the preceding figure of 239,000. New data is set to be published today at 12:30 UTC.
Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (Apr) will be released today at 12:30 UTC. United States Existing Home Sales (Mar) is expected today at 14:00 UTC.
Trending positively for about a month. This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 77.83% year to date.
