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February 27, 2023
Bitcoin drops from $23,552 to $23,400, losing $151.75 (0.68%) today.
New United States Pending Home Sales improved upon the previous 1.1% figure while also exceeding analyst expectations with a reading of 8.1%.
On the flip side, positive data for Bitcoin released earlier when United States Pending Home Sales came out at 8.1%, better than analyst estimates of 1% and improving upon the previous reading of 1.1%. Data for United States Core Durable Goods Orders published today at 13:30 UTC came out at 0.7%, beating projections of 0.1% and showing improvement over the preceding figure of -0.4%.
Meanwhile, Core Durable Goods Orders in United States fell short of market expectations (-4%) with a reading of -4.5%, continuing the decline from the previous figure of 5.1%.
Bitcoin made an initial break below its 21 day Simple Moving Average at $23,260, a possible indication of a forthcoming negative trend.
Looking forward, Bitcoin is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, MaticNetwork USD is down $0.049 from the beginning of the session and now trades around $1.23. Chainlink USD slides down 3.64% to trade around $7.21.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36.
Moreover, United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released tomorrow at 15:00 UTC.
This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 41.35% year to date.
