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June 26, 2023
Trading lower, Bitcoin is currently down $303.37 as it ranges between $30,024 and $30,600 so far today.
While price action maintains a negative bias, United States 2-Year Note Auction released today at 17:00 UTC with a figure of 4.67, while the previous figure was 4.3.
Bitcoin made an initial break below its 5 day Simple Moving Average at $30,369, a possible indication of a forthcoming negative trend. On the other hand, note that Bitcoin reversed direction at $30,174 support zone and climbed $15.26 above it.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Bitcoin to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Bitcoin is expected to attract significant bearish sentiment in the coming days.
Other assets are showing positive performances as Bitcoin Cash added 14.58% to its value, now trading at $224.1. FTX Token gained 9.54% and is now trading at $1.36. Having closed the previous session at $1.4, NEAR Protocol is up 11.25% today to currently trade at around $1.56.
In addition, United States Core Durable Goods Orders is projected to outperform its last figure with -0.2%. It previously stood at -0.3%; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Building Permits is expected tomorrow at 12:00 UTC. United States New Home Sales (May) will be released tomorrow at 14:00 UTC.
Bitcoin has gained 82.88% since its lowest print of $15,759 earlier this year.
