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April 18, 2023Having lost $1,046 over 5 days, Today is looking a bit better: without a clear-cut direction, Bitcoin is trading around $29,477 and ranging between $29,242 and $29,500.
Bitcoin's state is reflected by market data as United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released yesterday at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
As the day gets underway, chart analysis suggests Bitcoin is approaching key support, around $411.94 away from $29,065. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
While Bitcoin is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Litecoin is up 2.65%.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.46 million from the preceding figure of 597,000. United States Building Permits (Mar) scheduled to come out today at 12:30 UTC.
Trending positively for about a month. Bitcoin has gained 77.47% since its lowest print of $15,759 earlier this year.
