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June 07, 2023
Maintaining its 3 days rise (+$1,455.84), Heading in the same direction for now — after closing the previous trading day at $27,200, Bitcoin is up to $27,300, which makes for a move of 0.33%/$100 today.
Meanwhile, United States API Weekly Crude Oil Stock came out at -1.71 million, while a consensus of analysts was expecting 1.5 million.
Bitcoin's upper Bollinger Band® is at $28,000, this is a slight indication of a slowdown. Bitcoin could be slowing down soon as it approaches resistance at $27,600. Of course, crossing it might suggest further gains are ahead.
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.
Other markets are also showing gains as FTX Token leaps up 9.54% to trade around $1.36.
At the same time, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Furthermore, the market is looking at United States Crude Oil Inventories projected to decline to 1.15 million while previous data was 4.49 million; data will be released today at 14:30 UTC. Tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 238,000 from the preceding figure of 232,000.
On a negative trend for around a month. This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 61.61% year to date.
