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July 01, 2023Maintaining its 18 days rise (+$5,351.19), Heading in the same direction for now — Bitcoin posts light gains on a low-volatility day, ranging between $30,339 – $30,633 and is now at $30,600.
At the same time, United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4. United States CFTC S&P 500 speculative net positions came out at -208,300.
Bitcoin is $551.54 away from testing key resistance at $31,155. Peaking above this level could inspire market bulls and open the path to further gains. Despite posting gains so far today, Bitcoin slid below its 10 day Simple Moving Average at $30,400 in earlier trade — an early indicator that a negative trend could be emerging.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Bitcoin is set for a reversal in the coming days.
Bitcoin shows positive signs, other assets are also on par: FTX Token is up 9.54%.
At the same time, Bitcoin Cash closed at $290.07 (down 5.43%).
This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 82.42% year to date.
